PARIS -- Renault said today it reached a compensation agreement with three executives it wrongfully accused of spying and dismissed in January.
Matthieu Tenenbaum, formerly deputy head of the group's electric vehicle program, has accepted the company's offer to return and will be joining Renault's strategy and planning unit May 2, the company said.
Michel Balthazard, formerly senior vice-president of advance engineering, and Balthazard's No. 2, Bertrand Rochette, declined reinstatement.
Renault fired the three executives in January, saying its high-profile electric vehicle project had been targeted by an international spy network. Later it admitted it had been tricked and said the men did nothing wrong and there was no spying.