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New Alliance operating board intentions

New Alliance operating board intentions

Jean-Dominique Senard, chairman of Renault, Hiroto Saikawa, CEO of Nissan, Thierry Bolloré, CEO of Renault and Osamu Masuko, CEO of Mitsubishi Motors, announce the intention to create a new Alliance operating board.

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.

In order to continue to strengthen the Alliance as well as lay the foundations of its future successes, Jean-Dominique Senard, Hiroto Saikawa, Thierry Bolloré and Osamu Masuko are announcing the intention to create an Alliance operating board for Nissan, Renault and Mitsubishi Motors.

The new Alliance Board 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.'

To lay the foundations of the new development stage of the Alliance, the new board will be composed of the chairman of Renault, who will also act as chairman of the new Alliance operating board, and the CEOs of Nissan, Renault and Mitsubishi Motors; the operating decisions taken by the Alliance Board will be consensus-based, furthering the Alliance's 'win- win' approach.

The definitive agreements will be signed in conjunction with the anniversary of the Alliance.

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.

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