Ghosn new Renault CEO
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Manufacturing News, Source : The Manufacturer US
Published : 11 May 2005 21:46
Renault’s board of directors appointed Carlos Ghosn as president and CEO of Renault. He will also continue as president and CEO of Nissan, of which Renault owns 44 percent.
Renault’s board of directors appointed Carlos Ghosn as president and CEO of Renault. He will also continue as president and CEO of Nissan, of which Renault owns 44 percent.
After becoming Nissan’s CEO in 1999, he turned that company from one that was $22 billion in debt into a debt-free company with one of the highest operating profits in the auto industry. Renault reported a $4.53 billion profit in 2004.
Ghosn’s reputation has preceded him, as investors awaited a possible announcement of big changes at the car company. But in a brief address to shareholders, Ghosn says he plans to meet Renault staff at all levels shortly, but has announced no sweeping changes for the immediate future. “Do not, therefore, expect any hurried changes in the coming weeks,” he announced.
Ghosn also sits on the boards of Japanese manufacturing giant Sony and aluminum producer Alcoa.
Former Renault Chairman and CEO Louis Schweitzer will now be solely chairman of the board of Renault. The board of directors paid tribute to Louis Schweitzer for his work at the head of the company since 1992.
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