Nissan considers giving Renault some seats on oversight committees, report says
Renault, which owns 43.4 percent of Nissan, signaled it would block Nissan from formally adopting an overhauled governance structure at a June 25 shareholder meeting — unless Renault received representation on new Nissan committees.
Nissan is now considering having Renault executives as members of the nomination, audit and compensation committees, a person with direct knowledge said.
He said he would support Nissan’s governance reform if Nissan allowed Renault’s two representatives on Nissan’s board to be part of its powerful committees.
A second source familiar with Nissan’s thinking said that there is no agreement yet on Renault’s recommendations and the two companies are still negotiating.
“There is still a gap … both sides need to make concessions. The question is whether they can narrow (the gap),” this person said.
In a related development, the source with direct knowledge said that Nissan has recommended Yasushi Kimura, adviser to leading fuel distributor JXTGHoldings, to become the chairman of Nissan’s board of directors.