Alliance to create new board

The Alliance between car manufacturers Mitsubishi, Nissan and Renault has announced the intention to create a new operating board.

The announcement was made jointly by Jean-Dominique Senard, chairman of Renault, Hiroto Saikawa, CEO of Nissan, Thierry Bolloré, CEO of Renault and Osamu Masuko, CEO of Mitsubishi Motors.

Jean-Dominique Senard will act as chairman of this new operating board of the Alliance, with the CEOs of Nissan, Renault, and Mitsubishi Motors also joining the board.

The new Alliance operating board will drive the operational cooperation between Nissan, Renault and Mitsubishi Motors and look for new ways to generate value for its respective shareholders and employees.

It will be the sole body overseeing the operations and governance in the Alliance among Renault, Nissan and Mitsubishi, in lieu of RNBV and NMBV. As such, it will be the face and primary driver of the Alliance’s ‘New Start’.

The operating decisions taken by the Alliance board will be consensus-based.

The new board intends to meet every month in Paris or Tokyo and will regularly update stakeholders on its key value initiatives and achievements. The Alliance operating board will ask for the creation of specific projects to make recommendations for and drive the execution of new ways to create incremental value of the three auto companies.