Carlos Ghosn has resigned from his position as chairman and CEO of Renault, as confirmed by the French company’s board of directors following a meeting on January 24.

Renault’s board of directors also decided to put in place a new governance structure, one that will separate the functions of chairman of the board and CEO. Regarding the former, the board co-opted Jean-Dominique Senard as the new chairman of the board and director at Renault.

Aside from the usual duties as chairman, Senard will be tasked to evaluate and, if necessary, change Renault’s governance to ensure a smooth transition to the new structure.

He will also be given full responsibility in managing the Alliance on behalf of Renault, working together with Thierry Bolloré, the board appointed CEO. This includes being the primary contact person for Nissan and other Alliance partners regarding the organisation, evolution and proposals made within the Alliance.

Nissan has since issued a statement regarding the managerial changes at Renault, with company CEO Hiroto Saikawa saying, “We welcome these management changes at Renault. Over the past 20 years, each company has respected the other’s identity and autonomy, and by combining our strengths we have created synergies and achieved profitable growth.

“These mutually beneficial activities will not change in any way; in fact, we believe they need to accelerate. We are very pleased to be able to open a new chapter in our historic partnership,” he added.