City
Epaper

Ghosn files lawsuit against Renault

By IANS | Updated: January 14, 2020 10:20 IST

Ousted Nissan Chairman Carlos Ghosn has filed a lawsuit against Renault to claim his retirement rights from the French car manufacturer of which he was CEO, a role from which he was forced to leave following his arrest in Japan in November 2018.

Open in App

In two interviews with the French media in Beirut, where he fled to from Japan, Ghosn on Monday justified the move on grounds that he did not formally resign as Renault's boss, reports Efe news.

After an exchange of letters between the parties, the former CEO wrote to the Financial Markets Authority of France (AMF) in mid-December because in his opinion Renault's financial communication on his departure was wrong.

And at the end of last month, he took the case to the Labour Magistracy of Boulogne Bilancourt on the outskirts of Paris.

"My resignation from Renault? It's a farce," he said in statements to the newspaper Le Figaro, adding that he initially wanted to settle the dispute in a friendly manner and recalling that when he left the company he was imprisoned.

"Being held in Japan by the force of things, I could not leave the company with chaotic governance," he told Europe 1.

He said he had to appoint a CEO to replace him and that is why he signed a letter on January 23, 2019 in which he said: "I want to retire from my duties to allow the company to restore its governance."

The Renault board of directors interpreted this as the "resignation" of Ghosn, releasing a statement to that effect.

It minimized the former chief's remuneration for the 2018 financial year.

In his letter, Ghosn said he was leaving his duties but not giving up his rights.

In statements given to Europe 1 he insisted his letter "translated into a resignation when it was not."

Renault has commented on the dispute that will lead to a hearing at the end of February.

For the former CEO, his pension rights represent about 770,000 euros per year.

( With inputs from IANS )

Tags: RenaultGhosnjapaneuropeFinancial Markets Authority Of France
Open in App

Related Stories

CricketJapan vs UAE Live Cricket Streaming: Where and How to Watch ICC Men's T20 World Cup East Asia Pacific Qualifier Match 9

InternationalCyber Attack Halts Check-ins and Flight Boarding at European Airports, Including London’s Heathrow

InternationalTurkey: 2 Cops Killed After 16-Year-Old Opens Fire at Police Station in Izmir; Shooting Captured on Camera

OpinionsChina’s Move... Fictator’s Fortune!

InternationalHeatwave in Japan: Temperatures in Tokyo Cross 40 Degrees Celsius, Breaks 150-Year-Old Record

International Realted Stories

InternationalChina's rare earth monopoly threatens global climate transition, warns expert

InternationalAfghanistan seeks new trade routes, relies more on Chabahar amid strained ties with Pakistan

InternationalUkraine strikes major Russian oil hub in Novorossiysk

InternationalPakistan's inflation spiral exposes crumbling market governance

InternationalBolsonaro braces for possible arrest as Supreme Court rejects appeal in coup case