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Nissan, Renault and Mitsubishi pledge new start

Carmakers’ alliance breaks up all-powerful chairmanship previously occupied by Carlos Ghosn

Nissan, Renault and Mitsubishihave pledged a “new start” for the world’s top carmaking alliance, breaking up the all-powerful chairmanship previously occupied by ousted boss Carlos Ghosn in a move designed to put the three motor companies on a more equal footing.

The arrest and removal of Ghosn, who is credited for rescuing Nissan from near-bankruptcy in 1999, had left the future of the alliance uncertain with speculation the partnership could unravel. Nissan said Ghosn wielded too much power, creating a lack of oversight and corporate governance.

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