Renault ousts CEO Bollore in abrupt shake-up

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Boardroom drama on Friday (October 11) at french carmaker Renault - Its CEO Thierry Bollore has been voted out.

The French carmaker and Japanese partner Nissan are seeking a fresh start following the scandal-hit tenure of former alliance boss Carlos Ghosn.

He's been accused of financial misconduct - which he denies.

Bollore, who had long been Ghosn's right-hand man, was promoted to steady the ship this year, with Jean-Dominique Senard brought in as chairman.

But Bollore had an uneasy relationship with Nissan, according to sources familiar with the matter.

And Renault and the French state - its key shareholder - have emphasised their wish to repair ties and reinforce the alliance.

Bollore has been replaced by the firm's financial director, Clotilde Delbos, as an interim boss.

Renault was expected to shake up its management at some stage, as Senard had a mandate to overhaul governance at the firm as well as strengthen ties with Nissan.

Bollore's fate was sealed swiftly and dramatically this week.

The executive denounced his looming exit as a "coup" in a newspaper interview on Thursday.

It comes hot on the heels of a management reshuffle at Nissan, which has also just replaced its CEO.

Renault shares were up 4.3% following the announcement.

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