FILE PHOTO: French Financial system Minister Bruno Le Maire attends the 2018 Ladies’s Discussion board World Assembly in Paris, France, November 15, 2018. REUTERS/Benoit Tessier

PARIS (Reuters) – Carlos Ghosn is now not match to steer Renault following his arrest in Japan, stated French Finance Minister Bruno Le Maire on Tuesday.

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“Carlos Ghosn is now not able able to main Renault,” Le Maire informed France Data radio.

Nissan stated on Monday that an inside investigation had revealed that Ghosn engaged in wrongdoing together with private use of firm cash and under-reporting for years how a lot he was incomes. He was arrested and could be fired from Nissan’s board this week, added Nissan.

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The French state owns 15 % of Renault, which in flip holds a 43.four % stake in Nissan.

Le Maire stated he would contact his Japanese counterpart over the matter, and reiterated that France’s precedence was to make sure the soundness of the Renault firm.

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Le Maire added that Renault’s partnership with Nissan was within the pursuits of each France and Japan and of each corporations.

Reporting by Sudip Kar-Gupta; Modifying by Leigh Thomas

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