Renault-Nissan alliance agrees to strengthen partnership

The boards of directors of Renault and Nissan have reached an agreement to further strengthen their alliance following a meeting in Tokyo.

Carlos Ghosn, chairman and CEO of the Renault-Nissan Alliance commented, “Today was an important day for the future of the Renault-Nissan Alliance. After months of discussions, I am happy to say that an agreement has been reached that builds on our heritage and strong foundations to achieve further sustainable growth and success of the two partners. While there were important short-term issues to address, it was imperative that all involved took a long view.”

The agreement is based on three points:

-   The principle of the French government’s double voting rights within Renault to be maintained as of April 01, 2016, and a contract between the French government and Renault caps the French government’s voting rights at 17.9%, up to 20% in case of an unusually high quorum at the shareholders general meeting;

-   No enfranchisement of Nissan shares in Renault;

-   A contract between Renault and Nissan providing for non-interference in Nissan’s governance by Renault.

Ghosn continued, “I want to thank all parties involved in helping us reach today’s agreement for their hard work, constructive spirit and business vision. We now look forward to all parties returning their focus to day to day operations to pursue sustainable growth for Renault and Nissan and to increase performance through additional Alliance synergies.”