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TOKYO (Reuters) – Japan believes it is important for Nissan Motor Co (7201.T), Renault (RENA.PA) and Mitsubishi Motors Corp (7211.T) to maintain a stable alliance, its top government spokesman said on Wednesday. Chief Cabinet Secretary Yoshihide Suga made the comment in a regular news conference. The three automakers’ alliance has been jolted by the arrest this week of Nissan’s Chairman Carlos Ghosn on suspicion of financial misconduct gucci lion cufflinks uk sale. Ghosn is also chairman and chief executive of Nissan’s French partner Renault and chairman of Mitsubishi Motors, the third partner in the alliance..

PARIS/TOKYO (Reuters) – French carmaker Renault tapped its chief operating officer and a senior board member to fill in for embattled boss Carlos Ghosn, after an investigation by alliance partner Nissan led to his arrest on suspicion of financial misconduct. Thierry Bollore, Ghosn’s operational second-in-command, will become deputy chief executive, while lead independent director Philippe Lagayette assumes the function of interim chairman, Renault said after a board meeting late on Tuesday gucci lion cufflinks uk sale.

But the board refrained from firing Ghosn while awaiting more detail on the allegations – in a decision that could also buy more time for an accelerated, permanent succession process. “Mr. Ghosn, temporarily incapacitated, remains Chairman and Chief Executive Officer,” Renault said in a statement. “During this period, the board will meet on a regular basis under the chairmanship of the lead independent director.”. Ghosn, one of the car industry’s best-known leaders, was arrested on Monday after Nissan said he had engaged in years of wrongdoing, including personal use of company money and under-reported earnings. The Japanese company plans to remove him as chairman on Thursday gucci lion cufflinks uk sale.

The French government, Renault’s biggest shareholder, had begun to distance itself from Ghosn, calling for new interim leadership before the meeting, as the Japanese investigation expanded to include Renault-Nissan alliance finances gucci lion cufflinks uk sale. “Carlos Ghosn is no longer in a position where he is capable of leading Renault,” Finance Minister Bruno Le Maire said earlier in the day. “Renault has been weakened, which makes it all the more necessary to act quickly.”. Statements by Le Maire, Renault and its board all echoed French preoccupations over the future of the alliance first articulated by President Emmanuel Macron within hours of Ghosn’s arrest on Monday..

Following talks between Le Maire and his Japanese counterpart Hiroshige Seko on Tuesday, the ministers reaffirmed their “shared wish to maintain this winning cooperation”. But in a sign that Nissan may now seek to loosen its French parent’s hold on the partnership, the Japanese company informed Renault it also had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault’s ultimate control, three people with knowledge of the matter told Reuters gucci lion cufflinks uk sale.