Renault picks new leadership as Ghosn in detention resigns

Renault SA said Thursday it has named a new chairman and CEO to replace Carlos Ghosn, as the once-feted auto tycoon relinquishes all top posts of the auto alliance group he created, after his arrest for alleged financial misconduct.The new leadership at the French carmaker will immediately face the challenge of rebuilding ties with longtime alliance partner Nissan Motor Co., which brought the allegations against Ghosn to prosecutors following a whistle-blower tip.The Renault board appointed Jean-Dominique Senard, CEO of French tire company Michelin, as chairman and promoted Thierry Bollore,…READ FULL ARTICLE