The French market regulator has been asked by three shareholder activist groups to investigate Renault-Nissan (NSANY) leader Carlos Ghosn's political conflicts of interest and the possibility of breaches of governance by the car making team, Reuters reports.
Proxinvest, CtW and RAIR all signed a 24-page letter sent to the French AMF authority claiming that Renault neglected to inform shareholders adequately about the transfer of decision making power to the Renault-Nissan joint venture, Reuters noted.
The letter also details Ghosn's potential conflicts of interest as chairman and CEO of Renault, as well as chairman of both rival companies Mitsubishi and Nissan.
"We believe an investigation is urgently needed to uphold the rights of Renault shareholders," CtW Investment Group Executive Director Dieter Waizenegger said, according to Reuters.
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