Nissan Says Its CEO Met with Counterpart at Renault

Nissan Motor Co. says CEO Hiroto Saikawa did hold a one-on-one meeting this week with Renault Deputy CEO Thierry Bollore to discuss the Ghosn management crisis.

Nissan describes the talks as productive and positive. Saikawa raised the ire of Renault, Nissan’s 43% owner, by announcing Ghosn’s arrest on Nov. 19 before offering to explain its justification for accusing him of underreporting $43 million in compensation.

The Japanese company also has rebuffed Renault’s request for a special shareholder meeting to discuss the crisis. The meeting would enable Renault to nominate and install a replacement for Ghosn on Nissan’s board.

Nissan removed Ghosn as chairman three days after his arrest. Renault continues to retain the executive as its official chairman and CEO, pending details of Nissan’s evidence of financial misdeeds. A preliminary probe by Renault found no evidence of Ghosn wrongdoing.