Renault boss Ghosn faces tight shareholder vote on pay

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PARIS (Reuters) – Renault (RENA.PA) boss Carlos Ghosn faces another nail-biting salary vote when the French government, the carmaker’s largest shareholder, is expected to oppose his 7.4 million euro ($8.7 million) 2017 payout at Friday’s annual shareholder meeting.

FILE PHOTO: Carlos Ghosn, Chairman and CEO of Renault, speaks during the French carmaker Renault’s 2017 annual results presentation at their headquarters in Boulogne-Billancourt, near Paris, France, February 16, 2018. REUTERS/Gonzalo Fuentes/File Photo

Ghosn, who lost a vote on pay in 2016, is also up for renewal as chairman and CEO for another four-year term in which he has pledged to pursue closer consolidation with alliance partners Nissan (7201.T) and Mitsubishi (7211.T).

The French state holds a 15 percent Renault stake with double voting rights, capped at 18-20 percent for votes on remuneration and other ordinary business.

The Renault-Nissan chief, 64, secured government support for his renewal – likely…



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