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

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The 2018 model year could be an exciting year for fans and enthusiasts of the Chevrolet Corvette. This comes as the 2018 version of the Corvette is bound to feature...
by - January 19, 2017
As if seeing the future more than a decade from now, one of the top scientists in the world of robotics and automations is predicting that children born today won’t...
by - January 19, 2017
Ford has just recently unveiled the 2018 Ford Mustang, and as it turned out, the carmaker gave its beloved pony car a facelift. There have been mixed reactions about the...
by - January 19, 2017
The bidding war for one of the only 20 examples -- 21 actually, but the 00 version went to a museum -- of the classically beautiful Lamborghini Reventon built and...
by - January 18, 2017
Bentley once again confirmed its plans to push PHEV into their future lineups. As a matter of fact, the Bentayga SUV will be the first to have the plugin hybrid...
by - January 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries