Renault and Nissan boards vote to continue alliance

The Renault-Nissan alliance, first agreed in 1999, is set to continue after the Board of Directors at Nissan and the Board of directors at Renault voted to reiterate the Alliance for the future.

The Renault-Nissan alliance, first agreed in 1999, is set to continue after the Board of Directors at Nissan and the Board of directors at Renault voted to reiterate the Alliance for the future.
The alliance is based on the following principles:

The principle of the French government’s double voting rights within Renault to be maintained as of 1st April 2016, and a contract between the French government and Renault caps the French government’s voting rights at 17.9%, up to 20% in case of an unusually high quorum at the shareholders general meeting;
No enfranchisement of Nissan shares in Renault;
A contract between Renault and Nissan providing for non-interference in Nissan’s governance by Renault.

Carlos Ghosn, chairman and chief executive officer of the Renault-Nissan Alliance, said: "After months of discussions, I am happy to say that an agreement has been reached that builds on our heritage and strong foundations to achieve further sustainable growth and success of the two partners. While there were important short-term issues to address, it was imperative that all involved took a long view."