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6/19, 12:54 AM (Source: TeleTrader)
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Nissan to add Renault's top execs to its bodies - report

Nissan Motor Co. Ltd. aims to create a board committee that will include Renault SA's Chairman Jean-Dominique Senard and CEO Thierry Bollore (both pictured) in a move that should avert confrontation with the French carmaker during the upcoming shareholder meeting, Nikkei reported.

The new body is a part of the Nissan corporate governance reform plan, which also covers the creation of the joint nomination, compensation and audit committees. Senard and Bollore would receive multiple seats on yet-to-be-created governing boards, according to the sources close to the matter.

Nissan's shareholder meeting is scheduled for next Tuesday, during which the measures against the concentration and the abuse of power by its own top executives will be voted upon. Changes to Japanese automaker's articles of incorporation will not pass without Renault's support, as a successful vote requires a two-thirds majority to pass, and the French partner holds a 43.4% stake in Nissan.

Breaking the News / MA