November 20, 2018 / 8:32 PM / a month ago

Renault taps interim chairman, COO to replace Ghosn: sources

Thierry Bollore, Chief Operating Officer of Renault Group, speaks during the first press day of the Paris Auto Show, in Paris, France, October 2, 2018. Picture taken October 2, 2018. REUTERS/Regis Duvignau

PARIS (Reuters) - French carmaker Renault’s (RENA.PA) board named an interim chairman and handed new powers to its chief operating officer to replace embattled boss Carlos Ghosn following his arrest in Japan on suspicion of financial misconduct, sources said.

Philippe Lagayette, the board’s highest-ranked independent director, will take over temporarily as chairman, the sources said. Chief Operating Officer Thierry Bollore, Ghosn’s second-in-command, will take on full company officer powers.

At a Tuesday meeting, the board refrained from ousting Ghosn, the chairman and chief executive, while it awaits more information on accusations that emerged from an internal investigation by alliance partner Nissan (7201.T), the sources said.

A Renault spokesman did not immediately respond to requests for comment.

Reporting by Laurence Frost and Gilles Guillaume; Editing by Bate Felix

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