Business Ghosn wants to sue Renault for millions

Ghosn wants to sue Renault for millions

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"Indecent" – "a scandal": Former Renault boss Carlos Ghosn wants to sue the French auto company for a sum in the tens of millions, triggering outrage in France. Among other things, after his flight from Japan, Ghosn Renault wants to force the issuance of shares worth a good 15 million euros and an annual pension payment of almost 800,000 euros.

The head of the influential CGT union, Philippe Martinez, spoke of an "indecent" maneuver on Ghosn on Tuesday. "Carlos Ghosn has cut tens of thousands of jobs in the Renault group," he told LCI. "Now even he wants to go to court like a fired Renault employee." A member of the French Left Party, La France Insoumise, called Ghosn's approach "scandalous".

Prison, not resignation

Ghosn had previously announced from exile in Lebanon that he wanted to go to the Paris Commercial and Labor Court against Renault. The car company canceled the contractually agreed payments to him a year ago on the grounds that he had resigned, Ghosn told French broadcaster France 5. "I did not resign at all: I retired from my post because I was in prison" said Ghosn.

According to the 65-year-old ex-manager, he is entitled to 380,000 Renault shares with a current value of 15.5 million euros, which he was promised as a success bonus for the years 2015 to 2018. He also wants to receive an additional annual pension for executives of around 775,000 euros and a retirement severance payment of 250,000 euros.

Shortly before the turn of the year, Ghosn had left Japan and traveled to Lebanon after a spectacular escape. In Japan, the ex-manager faces a lawsuit, among other things, on charges of misusing company capital and transferring private losses to Nissan. In France, an investigation is underway against him for taking advantage of his pompous wedding at Palace of Versailles.

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