Renault warns Nissan it will block governance reshuffle

In a statement, the Japanese firm said it had received a letter from Renault "indicating intention to abstain from voting", a move that would mean the proposed changes fall short of the two-thirds majority needed to pass. "Nissan finds Renault's stance on this matter most regrettable, as such a stance runs counter to the company's efforts to improve its corporate governance," CEO Hiroto Saikawa said in a statement. Renault's decision, first reported by the Financial Times, was taken over fears the proposed governance changes could reduce its influence, the paper said.

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