PARIS – Renault Group Chairman Jean-Dominique Senard, who was introduced in to stabilize the corporate after the arrest of Chairman and CEO Carlos Ghosn in November 2018, might be appointed for an additional time period, the automaker mentioned.

Senard was tapped that 12 months by the French authorities, a significant Renault shareholder, to exchange Ghosn, who was detained in Japan after the arrest on fees of understating compensation at alliance accomplice Nissan. 

Senard, now 69, was the CEO of Michelin on the time, though he had deliberate to step down in 2019 when his contract expired.

Learn extra: Renault’s Senard, the ‘Anti-Ghosn,’ is a stabilizing power

He was formally named chairman in January 2019. Senard reportedly has a very good rapport with Renault’s Alliance accomplice Nissan, and within the months after Ghosn’s arrest repeatedly flew backwards and forwards to Japan to reassure Nissan executives of Renault’s dedication to the partnership.

Senard took the lead in finally unsuccessful negotiations with Fiat-Chrysler Vehicles for a mixture that unraveled on the final minute.

Within the final six months he has been closely concerned in negotiations to rebalance the alliance. Renault holds 43 p.c of Nissan, a majority shareholding it acquired in 1999, whereas Nissan, a far bigger firm, has 15 p.c of Renault and no voting rights on the Renault board.

Talks have been anticipated to conclude this autumn however current stories recommend a deal won’t happen till after the brand new 12 months.

Renault’s board will approve Senard’s new time period when it meets in Might, the corporate mentioned Thursday.

It would additionally approve the appointment of CEO Luca de Meo to the board, and renew the time period of Annette Winkler, a former Daimler government who had lead the Sensible model till 2018.