Renault Asserts Its Power, Dismisses Nissan Director, Disrupting Long-Standing Alliance
The long-turbulent partnership between Renault and Nissan has entered a dramatic new phase. The French automaker has used its shareholder clout to remove a powerful board director, sending shockwaves through the global automotive industry.
At Nissan’s annual shareholders meeting, Renault — which holds 15% of voting rights in the Japanese carmaker — abstained from voting on the re-appointment of influential outside director Motoo Nagai. This resulted in his ouster from the board. Nagai, a former senior figure at Mizuho Financial Group (Nissan’s primary lender), had served on Nissan’s board since 2019 and held seats on the nomination, compensation, and audit committees simultaneously — a rare and powerful position.
Renault justified the move by stating it “could not support” nominees linked to Mizuho, arguing they “cannot be considered independent.” The action signals a renewed assertiveness from Paris under Renault’s new CEO François Provost, who took over after Luca de Meo’s departure in 2025.
For Nissan, already battling cratering sales in China and the U.S. and a massive debt burden, the boardroom drama adds fresh uncertainty. Nissan’s stock has lost more than two-thirds of its value since 2018, failed merger talks with Honda in early 2025 have come and gone, and new CEO Ivan Espinosa is still trying to stabilize the company.
Analysts say Renault’s move is a calculated signal to institutional investors that the alliance’s largest shareholder remains a force to be reckoned with, despite the 2023 restructuring that equalized voting stakes between the two companies.
Source: The Japan Times — Renault Reminds Nissan of Its Clout With Ouster of Ex-Banker