Renault to block governance changes at Nissan

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Renault has communicated to Nissan its decision to abstain in a vote to change the Japanese automaker’s governance structure. The proposal would allow the company to create three committees responsible for audit, remuneration, and nominations, instead of having a board of statutory auditors. By deciding to abstain in the vote, Renault, which holds a 43 percent stake in Nissan, will prevent the proposal from receiving the two-thirds majority required for it to pass. The decision is seen as an attempt from Renault's Chair, Jean-Dominique Senard, to gain more power in the alliance.

The Financial Times, Leo Lewis, June 9th 2019