[Paris 15th Reuters]-France's Deputy Minister of Economics and Finance, Panniernascher, on the 15th, is more radical about companies than nationality in selecting the next CEO of Renault <RENA.PA> He stressed the importance of experience in reform and performance in the industry.
Last week, Renault decided to dismiss Thierry Borole CEO and started selecting the next CEO. The plan is to replace and reinforce the relationship with Nissan Motor <7201.T> by changing the top. The French government owns a 15% stake in Renault and has the right to speak as a member of the board of directors.
Paniel Lunascher cited Benjamin Smith, head of Air Canada, as the CEO of Air France, also a government-owned shareholder. "When I had to find someone, I got a very nice person who wasn't French." As for Renault, he expressed his view that the best conditions for the next CEO are those who can smoothly run the company in a major phase of change and play its role properly in cooperation with Nissan.