Ghosn Resigns as Renault CEO and Chairman; FVEs Unchanged--Renault EUR 88, Nissan JPY 1,480
No-moat-rated Renault reported that Carlos Ghosn, the embattled chairman and CEO, has resigned. The board named industry veterans Jean-Dominique Senard as chairman and Thierry Bolloré as CEO. We think key-man risk is substantial, as Ghosn was widely credited with maintaining relations and coordinating strategies between the Alliance partners--Renault, Nissan, and Mitsubishi. Even so, in our opinion, given the Alliance's long-term existence (founded 1999), collaborative efforts have become entren...Nissan Motor, along with its subsidiaries and associated companies, is engaged in the manufacture and sale of vehicles, marine products and related parts; and the provision of finance services throughout world. Co.'s principal businesses are automobile and sales financing. Automobile segment manufactures electric vehicles, sedans, sport coupes, compact cars, mini vans, SUVs, pick-up trucks, and station wagons. Co.'s principal brand names include "Leaf," "Infiniti," "Murano," "Altima," "Maxima," "Sentra," "Quest," "Cedric," "Days Roox," "e-NV200," "Note e-Power," "Caravan," "Wingroad," "GT-R," "Farilady Z, among others. Sales Financing segment provides sales financing services..
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