Rumour: Michelin CEO could lead Renault

According to a media report, Michelin CEO Jean-Dominique Senard is leading the list of potential candidates to replace Carlos Ghosn at Renault. Senard is 65-years-old and has reportedly secured the backing of the French government. The French government is the single largest shareholder of Renault.

Over the past 7 years, Senard boosted the profitability of tyre-maker Michelin. He also has experience in dealing with different automakers and could temporarily hold both CEO and Chairman positions. Current interim CEO at Renault, Thierry Bollore, has also worked in Michelin and is expected to take a permanent CEO role with the French carmaker at a later stage. As per company law, the age limit for CEO is 65, while the limit for the Chairman is 72 years.

In November 2018, Carlos Ghosn was arrested in Japan over serious financial misconduct. Subsequently, he was removed as the Nissan Chairman.

Source: Bloomberg