French carmaker Renault said today that it had named Thierry Bollore as its new chief executive and Jean-Dominique Senard as board chairman.
They will replace former boss Carlos Ghosn following his arrest in Japan for alleged financial misconduct.
Senard, currently the CEO of tyre giant Michelin, will represent Renault in its powerful alliance with Japanese carmakers Nissan and Mitsubishi, Renault added in a statement following a board meeting.
Bollore, the chief operating officer who had been Ghosn's heir apparent as CEO, has been running the company in the wake of Ghosn's sensational arrest in November.
He will be tasked with coordinating Renault's side of "the alliance's activities in the operational field" under Senard's authority, the statement said.
"The board expresses its confidence in the new leadership and wishes it every success in its mission," the statement said.
Ghosn, who remains behind bars in Japan, resigned as Renault CEO and chairman last night.
He had already been sacked as chairman of Nissan and Mitsubishi over accusations that he under-reported his income by millions of dollars over several years.
The Renault statement said merely that the board had "taken note" of Ghosn's resignation.
"The board praised the alliance's track record, which has enabled it to become the world's leading automobile manufacturer," the statement added.
Senard will be tasked with evaluating whether changes to Renault's governance will be necessary "in order to ensure the transition to the new structure" splitting the roles of chairman and chief executive, the statement said.
He is to present his proposals to the Renault board before the next general shareholders' meeting.
Meanwhile, French Finance Minister Bruno Le Maire said today that Paris would be "extremely vigilant" about the severance pay for Carlos Ghosn.
"I can tell you that we will be extremely vigilant as key shareholders on the exit conditions that will be set by the (Renault) board of directors," Le Maire told AFP on the sidelines of the World Economic Forum in Davos.
Le Maire welcomed the nomination of Senard as Renault's chairman, calling it a "new page in Renault's history".
"His main responsibility will be to ensure the future of the Alliance between Renault and Nissan and to strengthen it," Le Maire said.
"He has all the qualities to fulfil this mission," said Le Maire, who had officially backed Senard's candidacy a few hours before the board meeting.