Renault Chairman Steps Down From Nissan's Board Amid Restructuring Push

Nissan announced on Thursday that Renault Chairman Jean-Dominique Senard will step down from his position as vice chairman on Nissan's board of directors, marking a significant leadership change as the Japanese automaker confronts ongoing performance challenges, says a report by news agency Reuters.

According to Nissan's statement, Senard's departure will take effect following the annual shareholders' meeting in June. Fellow Renault representative Pierre Fleuriot will also exit the board at the same time.

Company Seeks Turnaround

The vacancies will be filled by two finance veterans nominated by Renault: Valerie Landon, who previously served as a Credit Suisse executive and currently sits on automotive supplier Forvia's board, and Timothy Ryan, a former Natixis executive.

An insider familiar with Renault's decision-making, speaking anonymously, indicated that the nominees' financial backgrounds were strategically chosen to support Nissan through its current restructuring efforts.

The board changes follow the March agreement between the automakers to modify their two-decade partnership by reducing cross-shareholdings and releasing Nissan from its commitment to invest in Renault's electric vehicle division, Ampere.

The alliance structure has traditionally included two representatives from each automaker sitting on the other's board.

Senard's Tenure Began During Alliance Crisis

Senard joined Nissan's board in 2019 and was tasked with repairing the fractured alliance following the 2018 arrest of former chairman Carlos Ghosn on financial misconduct charges, which Ghosn continues to deny.

Just last month, Senard publicly stated that Renault stood ready to assist Nissan through its current difficulties, though he will now be stepping back from his direct oversight role at the Japanese company.

Fleuriot, who has served on Nissan's board since 2020, will also conclude his tenure in June.