Nissan, Mitsubishi, Renault said to be planning single board

Nissan, Mitsubishi, Renault said to be planning single board

A Japanese court on Monday barred Carlos Ghosn from attending a Nissan board meeting, according to local media, as the bailed former chairman prepares his defence against charges of financial misconduct. He wished to attend the meeting, but the bail conditions require having the court's permission, so his attorney lodged the request on Friday.

"It is extremely disappointing that a long-trusted co-worker of my father's would slander him by claiming falsely that my father does not love and respect Japan", the children - Caroline, Nadine, Maya and Anthony Ghosn - said in a statement signed by all four.

The plan is aimed at fostering more balanced decision-making represented by Senard, Nissan CEO Hiroto Saikawa and Mitsubishi Motors CEO Osamu Masuko.

The proposed arrangement will have no impact on the existence of the RAMA. The ousted executive faces charges of aggravated breach of trust and under-reporting his salary by about $82 million at Nissan for almost a decade.

The group will replace two separate Amsterdam-based alliance entities, Renault-Nissan and Nissan-Mitsubishi, the people said, asking not to be identified because the information has not been made public.

The Tokyo District Court on Monday declined to temporarily suspend a condition of Ghosn's bail that stops him from meeting people linked to his case, blocking what would have been a dramatic face off between the once-feted executive and the colleagues he has accused of fomenting a coup.

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Nissan, Renault and Mitsubishi plan to set up a joint board meeting structure under which Renault's new chairman, Jean-Dominique Senard, is likely to take the chair, people with direct knowledge of the matter told Reuters.

The court did not give a reason for its ruling.

The heads of the partners will hold a press briefing at Nissan's Yokohama headquarters on Tuesday, Nissan said.

"I wonder if Mr. Ghosn has ever had any love or sense of attachment to Nissan as a company", Saikawa said.

Ghosn, who denies the allegations against him, remains a director at the firm but Nissan is expected to dismiss him from the board at an extraordinary shareholders' meeting next month.

The bigger question is whether a planned merger between Nissan, Renault and Mitsubishi will happen. "They need to have a structure where decisions are made transparently".

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