When the French government asks you to replace your current CEO who is languishing in a Japanese jail cell, you are at a point of having to make an adjustment and that’s what has happened at Renault.
Carlos Ghosn has resigned his role as chief executive and chairman of Renault SA and has been replaced by Michelin chief Jean-Dominique Senard as chairman and Thierry Bolloré, Renault’s deputy CEO, to take over as chief executive.
The WSJ announced the move and had an interesting take on Ghosn’s reputation as a globalist and the views of some French folks regarding him as an example of the globalist excess. On the other hand, Ghosn was credited for saving Nissan and Mitsubishi.
This leaves Renault F1 as the company’s sole motorsport effort as their Formula E program is now a Nissan program. Will it have an impact on the F1 team’s resources or worse, their participation in F1? Time will tell but let’s hope there is no change and the team can rely on the company for its future efforts at dislodging Mercedes from the top step.
As I mentioned back in November of 2018, his arrest could have serious impact on Renault and Renault’s F1 efforts and while the first has come to fruition, let us hope the second does not. The appointment of a Michelin executive is interesting and let’s hope he doesn’t have heartburn over F1 choosing Pirelli.
Hat Tip: WSJ