False accusations from the top two executives in the Renault spy case that cost three their jobs.
The board of directors of Renault met today in an unscheduled meeting after a French prosecutor said earlier that three executives dismissed by Renault are innocent of claims in the Renault spy case that had executives depositing payments into bank accounts in Switzerland and Liechtenstein.
The bank accounts did not exist, and the prosecutor left the impression that Renault could have been conned by Dominique Gevrey who made the accusations and received large amounts of money to investigate. Millions of dollars in payments and or pending bills are involved over charges that future product plans, including those of electric vehicles that Renault is betting on, had been compromised.
In a statement Renault said that Carlos Ghosn, Chairman and Chief Executive Officer, and Patrick Pélata, Chief Operating Officer, “present their sincere apologies and regrets, personally and in the name of Renault, to Messrs Balthazard, Rochette and Tenenbaum, who were wrongly accused in this affair.” They were fired and publicly humiliated in January by Renault.
The futures of Ghosn, arguably France’s highest profile business executive, and Pélata are unknown pending further communication from the board, which Renault said would be forthcoming. Both made damaging false accusations about the spy case, and Pélata implied he would resign if the charges were false.
The French government, which owns 15% of Renault, was embarrassed since it had not been informed of the alleged spying or of the firings before Renault went public earlier this year in January. The government began its own investigation with DCRI (Central Directorate of Interior Intelligence) for what remains an ongoing inquiry.
Renault is now pressing charges and has filed a civil action, in what it says is a case of organized fraud. The fired executives will be reinstated and compensated, according to Renault.
No word this evening from the board on what – if anything – will happen to Ghosn and Pélata.
