Renault to discuss its new strategic plan and annual results at board meetings

Article by Christian Andrei, on January 8, 2011

A source said that Renault SA will discuss its new strategic plan and annual results at board meetings on Jan. 31, 2011 and Feb. 9, 2011. Another source confirmed that board meetings would be held on the two dates.

Renault, a French carmaker, confirmed that a board meeting would take place on Jan. 31 but declined to say what was on the agenda and would not confirm the Feb. 9 meeting. On Feb. 10, 2011, the company is due to unveil the strategic plan when it publishes its full-year results.

The plan is set to focus more on electric vehicles, in which Renault and alliance partner Nissan are jointly investing EUR4 billion ($5.31 billion), as well as synergies between the partners and growth in emerging markets as car demand in Europe stagnates.

Renault had to drop its previous strategic plan, which aimed for a 6 percent operating margin in 2009, after the crisis dragged the auto industry into turmoil from late 2008.

Carlos Ghosn, Renault's CEO who also heads Nissan, has said the new plan for Renault would have "more realistic" targets and he vowed to provide a detailed plan for 2011 with longer-term perspectives. [via autonews - sub. required]

Topics: renault, plan

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