TU-TESL

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How to improve the efficiency of the alliance? On November 29, Renault alliance held a special meeting in France to discuss the matter. Jean Dominique senard, chairman of the board of directors of the alliance and Renault, Makoto Uchida, Nissan's new chief executive officer, Osamu masuko, chairman of Mitsubishi Motor, and others attended. As a first step to solve the problem, the Renault Nissan Mitsubishi alliance believes that it is necessary to appoint a secretary general as soon as possible in the next few days to accelerate the improvement of work efficiency. It is reported that the Secretary General will be the key to coordinate and promote several major alliance projects. These projects are about to be launched to speed up the business efficiency of their respective companies. The Secretary General will also report to the Executive Board of the alliance and the CEOs of the companies. Renault Nissan Mitsubishi alliance has been established for 20 years. In 1999, because Nissan was on the verge of bankruptcy, under the leadership of Ghosn, Renault reached out to Nissan and acquired 36.8% of Nissan's equity with us $5.4 billion, becoming the largest shareholder of the latter. Meanwhile, Ghosn was transferred from Renault to help restructure Nissan, which was on the verge of bankruptcy at that time. In 2016, Mitsubishi's "fuel consumption door" scandal broke out, which became a contract for the alliance to acquire Mitsubishi shares In May of the same year, the Renault Nissan Alliance officially announced to purchase 34% of the shares of Mitsubishi company for us $2.7 billion, and the Renault Nissan Mitsubishi alliance was thus established. However, with the arrest of the chairman of the Renault Nissan Mitsubishi alliance, Mr. Ghosn, in November last year for suspected violation of the financial commodity trading law, the whole operation of the alliance fell into confusion and was once on the verge of collapse. To save the alliance, Renault and Nissan have made a series of personnel changes this year. The alliance hopes to quickly implement the post of secretary general, and also intends to restore the alliance relationship and start relevant work as soon as possible.