The French government has told Renault SA to provide more details on compensation paid to senior executives via a Dutch holding company jointly owned with alliance partner Nissan Motor Co, French Minister of Finance Bruno Le Maire said on Sunday.
Le Maire made the demand after France’s CGT trade union voiced concerns over payments made to certain high-ranking executives via the alliance’s Renault-Nissan BV (RNBV) Dutch venture and called for more transparency at the automaker.
Corporate governance inside the alliance has come under tight scrutiny after Japanese authorities arrested its chairman Carlos Ghosn on Nov. 19 on suspicion of under-reporting his income at Nissan.
Photo: AFP
The French state is Renault’s biggest shareholder.
Le Maire told CNews television that the government had written to Renault’s leadership to “request all details necessary for full transparency on these compensation payments.”
“I want to know who these payments were made to, if they were declared and therefore whether ... the Renault board was aware of them,” he said.
A Renault spokesman did not immediately return calls and messages seeking comment.
Ghosn is to make his first public appearance in seven weeks at a Tokyo court today after he requested an open hearing for an explanation on his continued detention.
The son of Carlos Ghosn said in an interview published on Sunday that people would be surprised when his father recounts his version of events to the Tokyo court.
Anthony Ghosn, 24, told France’s Le Journal du Dimanche that his father — who will remain detained until at least Friday — would get 10 minutes to talk at the hearing being held at his own request.
“For the first time, he can talk about his version of the allegations against him,” the son said in the interview. “I think everyone will be rather surprised hearing his version of the story. Until now, we’ve only heard the accusers.”
The son has no direct contact with his father, getting information only via lawyers.
He said that his father, who for decades was a revered figure in the global auto industry, has lost about 10kg from eating three bowls of rice daily, but that he reads books and “resists.”
Carlos Ghosn refuses to cave in, contending that he would be freed from detention if he admitted guilt to the prosecutor, the son said.
“For seven weeks, his decision has been quite clear... He won’t give in,” Anthony Ghosn said, adding that his father would be wearing prison clothes and handcuffs in court.
Carlos Ghosn is charged with underreporting his pay by about ¥5 billion (US$46.24 million) from 2011 to 2015 and faces a breach of trust allegation.
Additional reporting by AP
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