Renault plans new alliance body with Nissan and Mitsubishi

Renault, Nissan and Mitsubishi Motors plan to form a single board that will oversee their alliance’s governance and operations, as the automakers try to streamline their decision making following the arrest of Carlos Ghosn.

In a statement on Monday, Renault said the new body will have no impact on the existence of the RAMA (Restated Alliance Master Agreement) and the alliance’s cross-shareholding structure, Automotive News reads.

The group will replace two separate Amsterdam-based alliance entities, Renault-Nissan BV and Nissan-Mitsubishi BV, people familiar with the matter said, asking not to be identified because the information is not yet public.

Renault Chairman Jean-Dominique Senard will probably chair the new committee, one of the people said.

The plan is aimed at fostering more balanced decision-making represented by Senard, Nissan CEO Hiroto Saikawa and Mitsubishi Motors CEO Osamu Masuko.

The current structure is seen as outdated and obscure in its functions, with the automaker’s own investigations having found that former Chairman Ghosn funneled money from the Dutch units. Ghosn has said the claims of improper payments were a “distortion of reality.”