Renault Tycoon Carlos Ghosn fires for the second time its COO

The departure of Carlos Tavares, who was deputy CEO at Renault under Chairman & CEO Carlos Ghosn, the “Vladimir Putin” of Renault, confirms our numerous previous warnings to shareholders of Renault against the disturbing trend to over-concentration of power at Renault over the last five years.

As highlighted by the French press there is a clear inability of this Chairman & CEO to share decisions and at least to appoint a number two able to replace him in case of failure.

"The problem of governance at Renault is getting worse. Carlos Ghosn is already CEO of Nissan, AvtoVAZ, the JV purchase RNPO, he already did not have sufficient time to cumulate these tasks. Renault here must have a real pilot who better defend its interests in the Alliance with Nissan. This new reorganization clearly is not the way, "says Jean-François Nanda, Deputy Steward central CFDT Renault quoted by daily French newspaper Les Echos.

Paris, September 4, 2013