Renault investors criticize CEO Carlos Ghosn’s new six-year business plan

Article by Christian Andrei, on March 7, 2011

How Carlos Ghosn reacts to criticism is something that interests a lot of people. The CEO of the Renault-Nissan automotive alliance appears very confident but on instances when the negative comments get to him, he turns to a stack of boxes filled with news clippings from 1999 about how he managed Nissan, a debt-ridden company more than a decade ago that some thought would soon go bankrupt.

We know this from an interview he had in June 2007 after he faced shareholders who weren’t pleased with Nissan's drop in profits.

But once again, Ghosn faces some intense scrutiny over the French end of Renault-Nissan alliance. Ghosn was named CEO of Renault six years ago. The Franco-Japanese partnership, which has been around for 12 years, is often regarded as a success but lately, Renault investors have hadn’t much to be happy about.

On Feb. 10, Ghosn presented a new six-year business plan for Renault, pledging to generate more cash and profits for the shareholders.

But surprisingly, investors gave it the thumbs-down, and Renault's shares have dropped about 12% since then. Investors weren’t pleased that Ghosn didn’t address the financial structure of the Renault-Nissan alliance. [via autonews]

Topics: renault

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