Renault Fires Its CEO In Abrupt Leadership Change

The board ousted its CEO, Balore, without disclosing reasons, effective immediately. Balore, who became CEO in January, replaced Carlos Cone, who faced legal issues for underreporting income. Over five years, Japanese authorities charged Cone with financial misconduct. Balore's close ties with Goan, a former top executive at Nissan and Mitsubishi, caused dissatisfaction among Nissan executives, as all three automakers are in an alliance.

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