Renault plans to scrap $12.4 mn of payouts to jailed Carlos Ghosn

Renault plans to scrap a golden parachute of about Euro 11 million ($12.4 million) for jailed former chief Carlos Ghosn, avoiding a politically explosive payout at a time of Yellow Vest protests across France.
 
Ghosn won’t benefit from a non-compete agreement that would have paid him two years’ compensation, the automaker said Wednesday. Renault also plans to withhold stock-based pay awarded from 2015 to 2018 that was conditional on his staying at the company.
 
Until his November 19 arrest on allegations of financial misconduct, the jet-setting executive led an automotive empire that stretched around the globe. He ran