The partnership between the French car manufacturer Renault and the Japanese one Nissan it would seem more and more wobbly. This was supported by the French press, which reporting the complaints of ten independent directors pointed the finger at the controversial double voting right, recognized to the public shareholder, i.e. the French State, by the Florange law wanted last year by the Minister of Economy Emmanuel Macron.
Climate therefore fiery on the eve of a extraordinary board of directors, during which the independent directors would like to suggest to the shareholders' meeting to maintain the simple right to vote, in order not to unbalance the outcome of the vote in favor of the government's will, given that already last April the French Treasury increased the share capital of Renault, while the Japanese partner is stuck at a 15% stakewhich does not grant him the right to vote.
The CEO of the two groups, Carlos Ghosn, would in fact be hoping for a rebalancing of the mutual control of the two companies over the capital of the other (between 25 and 35% each), but Minister Macron is not of the same opinion and has already reprimanded the manager in the columns of Les Echos: " He is the managing director, not a shareholder”.
