Carlos Ghosn

Carlos Ghosn

Renault has apologised to the three executives sacked in the alleged industrial espionage case and has committed itself to "reparations."

The automaker's abrupt change of heart follows an update today (14 March) by the French State Prosecutor, although specific details are not yet available.

In a statement issued today Renault said: "Carlos Ghosn, chairman and CEO and Patrick Pélata, chief operating officer, present their sincere apologies and regrets, personally and in the name of Renault, to Messrs [Michel] Balthazard, [Bertrand] Rochette and [Mathieu] Tenenbaum, who were wrongly accused in this affair.

"They are committed that reparations be made to the three executives, and that their honour in the public eye be restored. They further acknowledge the serious personal harm that they and their families have suffered. Carlos Ghosn and Patrick Pélata will personally meet with Balthazard, Rochette and Tenenbaum as soon as possible."

Renault thanked the Prosecutor's office as well as investigators at France's security service, the DCRI, that has been involved in the affair.

All three sacked executives have consistently stressed their innocence in the affair, with comments expected from their lawyers shortly.

Ghosn has convened an extraordinary board meeting today, after which Renault says it will comment on the matter.

A report on Reuters notes the Paris Prosecutor has also dismissed any suggestion bank accounts from the three executives exist in Switzerland and Liechtenstein.

"The bank accounts attributed to the Renault executives do not exist," Jean-Claude Marin is quoted as saying.