Nissan’s Saikawa to stay on as president, Renault chief to join board: sources

TOKYO (Reuters) – JapanÔÇÖs Nissan Motor Co will keep Hiroto Saikawa on as president and will bring in the chief executive of alliance partner Renault SA as a board member, two sources briefed on the matter said on Friday.

Renault Chief Executive Thierry Bollore is due to join the board, the sources said, while the French automakerÔÇÖs chairman, Jean-Dominique Senard, will remain on the board. The appointments are expected to be announced on Friday and presented for approval at a Nissan shareholder meeting in June.

There had been widespread speculation about SaikawaÔÇÖs future and the coming make-up of the board after Nissan this week flagged a 28% drop in annual profit and slashed its dividend, underscoring the difficulty of turning the page following the ouster of former Chairman Carlos Ghosn.

Reporting by Maki Shiraki; Writing by Takashi Umekawa; Editing by David Dolan

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