Governance: Renault and Nissan

governance: The exact nature of Renault's demand was unclear, but the company, which owns 43 percent of Nissan, may have wanted more representation on the committees being set up to strengthen corporate governance, according to The Japan Times. Saikawa said the proposed changes have already been discussed by Nissan's board, including members nominated by Renault. Nissan received a letter from Renault saying it would abstain in voting on the governance measures at Nissan's June 25 shareholders meeting, Saikawa said, apparently because its views weren't adequately reflected. ; Renault declined to comment. Nissan finds Renault's new stance on this matter most regrettable, as such a stance runs counter to the company's efforts to improve its corporate governance, he said. Saikawa's comments, which reflect differences with Renault, came after he expressed caution last week about a merger offer from Fiat Chrysler to Renault. The proposal calls for three committees to add outside directors and oversee compensation and audit. (news.financializer.com). As reported in the news.