Blow for Carlos Ghosn as Renault votes unanimously for pay cut | Business – Business Article

Renault’s board of directors has voted unanimously to strip former boss Carlos Ghosn of up to €30m (£26m) in pay and severance. Renault issued a statement on Wednesday saying its board had agreed to waive Ghosn’s non-compete clause and as a result the company would not be paying the compensation linked to this agreement. The move has the backing of the French government. This amounted to two years pay, worth €4-5m, plus about 460,000 performance shares worth up to €26m…

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Falling diesel sales more than Brexit behind Nissan’s X-Trail decision | Business – Business Article

When Nissan announced its intention to build the new X-Trail in Sunderland in October 2016, it was hailed by the government as a vote of confidence in Britain, so soon after the referendum result that had shocked Japanese carmakers. Theresa May was personally involved in lobbying the company, giving assurances to Nissan’s ousted chief executive, Carlos Ghosn, shortly before the decision. The government’s promises that Nissan would not be harmed by Brexit included pledges to ensure supply chains were not…

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