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January 28, 2019

CFDT union hails Renault board changes

Renault's CFDT union has welcomed the appointments of Jean-Dominique Senard and Thierry Bollore as chairman and CEO respectively.

By Rhodri Morgan

Renault ‘s CFDT union has welcomed the appointments of Jean-Dominique Senard and Thierry Bollore as chairman and CEO respectively.

Renault says it will now split the functions of chairman and CEO to provide a new governance structure, following the resignation of Carlos Ghosn from his top functions last week (24 January).

“The CFDT [Confédération Française Démocratique du Travail] welcomes this nomination with satisfaction, in the light of the industrial past and innovative positions of Monsieur Senard, particularly with business and his contribution to collective interest,” said a CFDT statement.

“We believe this decision, which we have been eagerly awaiting for several days, will stabilise the governance of Renault and the Alliance. The separation of the powers of the chairman and CEO guarantees better governance.

“It is time to evaluate the social aspect of the business in building a Renault raison d’etre in the interest of stakeholders in the business, in particular, the employees.

“CFDT Renault is ready to present its proposals quickly to the new chairman and CEO.”

A statement from Renault last week noted: “In addition to all the functions normally performed by the chairman, the new chairman of Renault will have to evaluate and, if necessary, change Renault ‘s governance in order to ensure the transition to the new structure,” said a Renault statement.

“He will present his proposals on the evolution of governance to the board of directors before the next General Shareholders’ Meeting.

“In addition, Renault ‘s board wishes to supervise actively the functioning of the Alliance and decides to give its chairman full responsibility for managing the Alliance on behalf of Renault , in liaison with the CEO.”

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