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Carlos Ghosn resigned as the leader of Renault



A spokesman for the French Treasury said Thursday that Ghosn, who is in jail in Tokyo, was sitting on Wednesday night. The French State owns a 15% stake in Renault ( RNLSY ) .
Ghosn was arrested in Tokyo on November 19. He has been accused by Japanese prosecutors with financial misunderstanding while head of the automaker Nissan ( NSANF ) ). Ghosn denies the charges.
His downfall has strained the global alliance he built between Nissan, Renault and Mitsubishi Motors.
Nissan and Mitsubishi both fired him shortly after his arrest, but Renault's board resisted conversations to follow after they said it didn't have enough information. But the French government left its support to Ghosn last week, and took only a question of time.

Renault will hold a board meeting on Thursday where it is expected to name a new CEO and CEO to replace Ghosn.

Among the likely candidates are Chief Operating Officer Thierry Bolloré, who was appointed acting CEO after Ghosn's arrest.

Jean-Dominique Senard, who is set to go down as CEO of tire maker Michelin ( MGDDY ) later this year, could be called Renault leader .

By installing a new leadership team, there could be no fear of Renault's future without Ghosn at the helm.


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