The boss of the Michelin is a possible successor of Ghosn to Renault – French finance minister


PHOTO PHOTO: Jean-Dominique Senard, managing director of the Michelin tire, is present at the Paris Motor Show in Paris, France, on 3 October 2018. REUTERS / Regis Duvignau / Pool

PARIS (Reuters) – Michelin (MICP.PA) The CEO Jean-Dominique Senard could be a good choice to drive the carmaker Renault (RENA.PA), French Finance Minister Bruno Le Maire said in an interview published Sunday.

Renault looks set to find a replacement for Carlos Ghosn, who is currently being held in Japan on charges of alleged financial misconduct linked to his role in Renault's sister car manufacturer, Nissan (7201.T). Ghosn denies the accusations.

Asked if Senard will replace Ghosn, Le Maire told the French newspaper Journal du Dimanche: "It is up to the board of directors to examine the proposals presented by the nomination committee".

"The French state, as a shareholder, will have its opinion." What I can tell you is that Jean-Dominique Senard has a recognized expertise in the automotive industry, "Le Maire said.

"At Michelin, he demonstrated his ability to succeed at the head of a large industrial company, and he has an idea of ​​the social responsibilities of a company that I strongly support," added Le Maire in the magazine. interview.

Le Maire said that any changes to the ownership structure between Renault and Nissan are "not on the table".

The French state owns 15 percent of Renault, which in turn holds a 43.4 percent stake in Nissan. Nissan has a 15 percent stake in Renault.

Reporting of Sudip Kar-Gupta; editing by Jason Neely

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