Carlos Ghosn quits Renault

Carlos Ghosn has officially left his position as chairman and chief executive officer of Groupe Renault, with Michelin’s Jean-Dominique Senard to fill his shoes as chairman and Thierry Bollore to take the reigns as CEO.

Mr Ghosn was fired from his posts at Nissan after his arrest on November 19 for alleged financial misconduct, and he remains incarcerated in Japan.

While Mr Bollore had been given interim CEO responsibilities since Mr Ghosn’s arrest, his position at the French carmaker has been made permanent after the resignation.

Groupe Renault’s former boss faces three charges of financial misconduct in Japan, which put the Renault-Nissan-Mitsubishi Alliance in a tricky situation.

Avoiding the use of his name, a statement from Renault praised Mr Ghosn’s work with the alliance.

“The board has taken note of the resignation of its current chairman and chief executive officer,” the statement read.

“The board praised the alliance's track record, which has enabled it to become the world's leading automobile manufacturer.”

The new Groupe Renault chairman, Mr Senard, will manage the alliance with Nissan, while Mr Bollore will be responsible for co-ordinating the French brand itself.

Following his arrest last year, Groupe Renault said it found no evidence of wrongdoing on Mr Ghosn’s part, and that an audit showed no signs of fraud.

“The review process has examined the compensation of the current Groupe Renault executive committee members for the financial years 2017 and 2018 and has concluded that it is both in compliance with applicable laws and free from any fraud,” it said in a statement.

According to reports in Japan, Mr Ghosn faces up to 10 years in prison, as well as a ¥700 million yen ($A9.0m) fine, if he is found guilty of the financial misconduct charges.

Is 10 years imprisonment a fair punishment if Carlos Ghosn is found guilty? Tell us your thoughts in the comment section below.