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

Article by Christian A., 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

Recommended

There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 2017
Are you a big fan of legendary boxer Mike Tyson, the former heavyweight world champion? Or are you a big fan of the iconic Ferrari F50? Either way, you will...
by - February 24, 2017
It seems that AM-RB 001 hypercar is not the only vehicle project that Aston Martin and Red Bull Racing has gone into. This time, don’t expect something as outlandish as...
by - February 24, 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