Carlos Ghosn has been denied €30m severance compensation

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Renault has cancelled €30m pay to Carlos Ghosn. The former CEO and Chair has lost the rights to about €26m in deferred performance shares and about €5m after the board waived a non-compete clause. The French state, which is the largest shareholder of Renault, is in favour of the proposal to cancel indemnities of Carlos Ghosn. Ghosn had resigned as head of Renault in January, after being arrested in Japan and charged with financial misconduct at Nissan.

Financial Times, David Keohane, Leo Lewis and Kana Inagaki, February 13, 2019