Renault elects Michelin CEO Senard as new chairman

Jean-Dominique Senard has been selected as the new chairman of Groupe Renault with Thierry Bollore appointed Chief Executive Officer in a revised senior management structure following the resignation of Carlos Ghosn.

Earlier this week French finance minister Bruno Le Maire confirmed Ghosn had resigned as chairman and CEO of Renault, with a board meeting held today to elect a replacement as part of its bid to sustain its long-standing Alliance.

In a meeting led by Lead Independent Director Philippe Lagayette the French company officially confirmed Ghosn’s resignation as CEO and chairman which has triggered “a new governance structure”.

It sees Senard appointed as new chairman with revised responsibilities including “full responsibility” for managing Renault’s partnership in the Renault-Nissan-Mitsubishi Alliance.

New CEO Bollore will coordinate the Alliance’s activities under the Renault brand and report to Senard.

Senard started his career at oil company Total S.A. in 1979 before joining Michelin as Chief Financial Officer in 2005. Senard became CEO at Michelin in 2007, becoming the first boss at the French tyre firm not related to the Michelin family, and is set to see out his term at the company at the end of the first half of 2019.

“The Board expresses its confidence in the new leadership and wishes it every success in its mission,” a Groupe Renault statement read.

Earlier this month, it was also announced Thierry Koskas, who was due to replace Jerome Stoll as head of the Renault Sport programme, was leaving the company just 18 days into his new role.

Koskas had been due to report directly to Ghosn prior to his arrest in Japan over claims of financial misconduct towards the end of last year. It is not thought the two departures are connected.

Stoll, who turns 65 this year and has been a Renault employee since 1980, will continue in the role he has held since Renault’s return to F1 as a fully-fledged works outfit in 2016.

Renault set an initial five-year aim of returning to winning ways in F1 and has enjoyed steady improvements each year since and last season finished fourth in the world constructors’ championship.