Renault CEO’s emphasis on ‘equality’ in relations with Nissan

Groupe Renault CEO Luca de Meo said the relationship between the French automaker and Japan’s Nissan “must be more equitable.”

Renault has the largest stake in Nissan with 43 percent. Nissan also has a 15 percent stake in Renault. Renault is on the agenda to reduce its stake in Nissan to 15 percent.

Nissan is known to have been uncomfortable for a long time with the current stock level difference. The two companies are negotiating the mutual equalization of their participation levels.

‘ANOTHER PAGE MUST OPEN’

In an interview with the Japanese organization Nikkei, Meo’s Italian manager, who referred to the latest process, said that “another page must be opened (in the alliance of the two companies)”.

Noting that he wanted to redefine the partnership, de Meo asserted that the relationship “should be more egalitarian,” saying, “This is not a ‘one party loses, the other wins’ situation.”

“Each company should do what it does best. This is the spirit (of the alliance),” Meo said, without comment, calling the possible sale of Renault shares a “sensitive matter”.

De Meo, who did not indicate the end of negotiations, emphasized his strong relationship with Nissan CEO Makoto Uchida, saying, “I meet with Uchida-san two or three times a week” (AA)