In Japan, the head of Renault and Nissan, Carlos Ghosn, was arrested on suspicion of financial fraud.
Carlos Ghosn leads the alliance of Nissan, Renault and Mitsubishi and was the main ideologist behind Renault's return to Formula 1. He is accused of hiding real income.
Ghosn, 64, is considered one of the most influential people in the automotive industry.
At a press conference today, Nissan CEO Hiroto Saikawa announced that Ghosn would be fired from his position as expected this week.
In an interview with AFP, Saikawa said: “I will appeal to the board of directors with a proposal to remove him from his position as chairman and to agree on this.
The partnership of the three companies will not affect this. We will cooperate even more with all partners to avoid any speculation.
Looking back, it's clear that the concentration of power was something we should be thinking about.
The situation has even caught the attention of French President Emmanuel Macron. He noted that the French state, which owns 15% of Renault shares, will be more careful about the stability of the alliance.
Despite the fact that Ghosn's resignation is unlikely to affect the near future of Renault in Formula 1, it was he who for a long time was the main supporter and ideologist of many key decisions, including Renault's return to F1.
