Renault warns alliance partner Nissan it will block governance reshuffle

French carmaker Renault has warned its alliance partner Nissan that it will block the Japanese auto firm's plan to overhaul its governance structure, Nissan confirmed Monday, a move it called "regrettable." In a statement, the Japanese firm said it had received a letter from Renault "indicating intention to abstain from voting", a move that would mean the proposed changes fall short of the two-thirds majority needed to pass.
 

"Nissan finds Renault's stance on this matter most regrettable, as such a stance runs counter to the company's efforts to improve its corporate governance," CEO Hiroto Saikawa said in a statement.
 

Renault's