Renault to Abstain on 2 Nissan Board Votes as 36% Holder Challenges Mizuho
Updated
Updated · Bloomberg · Jun 21
Renault to Abstain on 2 Nissan Board Votes as 36% Holder Challenges Mizuho
1 articles · Updated · Bloomberg · Jun 21
Summary
Tuesday’s Nissan shareholder meeting will see Renault abstain on two board appointments — the reappointment of outside director Motoo Nagai and new nominee Junichi Shinbo, according to people familiar with the matter.
The move sets Nissan’s top shareholder against its biggest creditor, Mizuho, turning routine board votes into a test of influence over the Japanese carmaker’s governance.
Renault owns about 36% of Nissan but can exercise only 15% of voting rights, limiting its formal power even as it signals opposition to the two candidates.