Nissan’s Saikawa to stay on as president, Renault chief to join board: sources By Reuters

© Reuters. FILE PHOTO: Thierry Bollore, CEO of Renault, attends Renault’s 2018 annual results presentation at their headquarters in Boulogne-Billancourt

By Maki Shiraki

TOKYO (Reuters) – Japan’s Nissan Motor Co will keep Hiroto Saikawa on as president and will bring in the chief executive of alliance partner Renault SA (PA:) as a board member, two sources briefed on the matter said on Friday.

Renault Chief Executive Thierry Bollore is due to join the board, the sources said, while the French automaker’s chairman, Jean-Dominique Senard, will remain on Nissan’s board. The appointments are expected to be announced on Friday and presented for approval at a Nissan shareholder meeting in June.

However, the former chairman of Japan’s business lobby, Sadayuki Sakakibara, who had been widely seen as a potential board candidate, will not be appointed, the sources said, declining to be identified because the information has not been made public.

A Nissan spokesman said the company could not comment on speculation.

There had been widespread speculation about Saikawa’s future and the coming make-up of the board after Nissan this week flagged a 28% drop in annual profit and slashed its dividend, underscoring the difficulty of turning the page following the ouster of former Chairman Carlos Ghosn.

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