Nissan and Renault hired an auditor to investigate offenses in the alliance

Nissan and Renault hired an auditor to investigate offenses in the alliance

January 31, 2019 0 By autotimesnews

Nissan and Renault hired Mazars, a French auditing firm, to investigate possible irregularities in their alliance. It is reported by Bloomberg, citing sources.

In particular, Mazars will study the division of the alliance in Amsterdam, which was created to coordinate cooperation, said Bloomberg. According to the agency, the auditors will analyze the possible misuse of the company’s assets. Official representatives of Renault, Nissan, and the Alliance refused to comment on the situation on the issue, Mazars did not answer calls. Collaboration with a French auditor is a sign that partners are moving forward in a joint investigation after the arrest of Carlos Ghosn, notes Bloomberg.

The Renault-Nissan Alliance was created in 1999. After seven years, the Japanese Mitsubishi joined the partnership. Under the current agreement, Renault owns 43% of Nissan, and the Japanese company owns a 15% stake in the French partner.

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Ghosn, who at the time was the chairman of the board of directors of Nissan, was arrested last fall, and searches were conducted at the company’s headquarters on the same day. He was accused of having underestimated his remuneration in the reports for the Tokyo Stock Exchange by 8 billion yen (about $ 71 million) for seven years. Later, he was charged with a new charge – that he covered the company’s losses in the amount of 1.85 billion yen (about $ 21 million) incurred as a result of private investment. Ghosn does not admit his guilt.

Since the end of 1996, Ghosn has held various management positions at Renault. After Renault and Nissan became strategic partners in 1999, Ghosn was appointed director of production for the Japanese concern. A year later, he became president of Nissan. Since 2005, the top manager also led Renault. He served as president and CEO of the French concern. In December 2016, Ghosn was elected Chairman of the Board of Directors of Mitsubishi. Renault has already found new managers instead of Ghosn: Jean-Dominic Senar has become the chairman, and Thierry Bollore has become the general director of the automaker. The board of directors of Nissan has not yet been able to elect a chairman instead of Ghosn.