"Nissan's position is negative" about having Senard, a former CEO of Michelin, as chairman of both companies, a person familiar with the matter said. "Having one single chairman may result in governance issues, especially when there are conflicts of interest."
In the wake of the Ghosn affair — in which the alleged improprieties occurred over nearly a decade — Nissan has pledged to review its governance, including a possible overhaul of the board's composition. Renault plans a similar study under Senard.
Another investigation is underway into the Dutch holding company, Renault-Nissan BV, that oversees combined operations. Renault and Nissan have reportedly hired Mazars, the French auditing company, to scour the company for possible financial misconduct.
The Japanese business daily Nikkei on Friday, Feb. 8, reported a possible compromise that would allow Senard to be named chairman, in return for Renault reducing its stake in Nissan, and possibly the French government cutting its holding in Renault. The French Finance Ministry denied that it was considering such a move.