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COMING UP:Share Opener Variant 3

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Transcript

00:00:00
>> The chairman of Renault-Nissan, Carlos Ghosn, has been arrested. Japanese media say he's being questioned over under-reporting his salary. The auto giant's already moving to terminate his contract and that of another senior manager. It says it's discovered misconduct, including using company money for personal purposes.>>
FOREIGN]
> The state, as a shareholder, will be extremely vigilant regarding the stability of the alliance and of the Renault group.
00:00:28
And we're also told by experts that this misconduct is serious enough to dismiss them.>> Renault's shares tumbled as much as 13% on the news. Ghosn is a legend in the industry. He's one of very few foreign top executives in Japan, and is widely revered there for rescuing Nissan from near bankruptcy.
00:00:50
His departure would raise questions about the future of its alliance with Renault. Reuter's Breakingviews columnist Liam Proud is following the story.>> Now, there are a lot of people on the board of all these companies that know how to run a car company. But the problem is, his job was to knit together all these different interests, and try and forge ahead with this kind of integrated global car maker.
00:01:12
And without him there, it's harder to see that happening.>> Those worries are making waves in France, because the French state owns a big stake in Renault. President Emmanuel Macron felt the need to step in.>>
00:01:34
Ghosn became chief executive of Nissan in 2001, when Renault bought a controlling stake. He held the post until last year, when he became chairman. Records show he received over $10 million for his final year as boss of the Japanese firm.