The French markets regulator, the AMF, has received complaints about corporate governance at Renault-Nissan from investor groups expressing worries about potential conflicts of interest and possible breaches of governance, according to Reuters.
The news agency reports that Proxinvest, and US activist CtW, have joined in sending a letter to the AMF pinpointing their concerns.
The investors’ key complaint is a claim that the car manufacturer failed to adequately notify shareholders about a “transfer of powers” to a joint venture, Renault-Nissan BV.
They also reveal fears about conflicts of interest over the role of Carlo Ghosn. He currently retains the role of chairman and chief executive of Renault, as well as holding the role of chairman at both Nissan and Mitsubishi. Until earlier this year, Ghosn was also chief executive at Nissan.
Last year shareholders voted down pay proposals for Ghosn, an event that caused a national debate in France over executive pay.
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