From Breakingviews - Rejigged Renault-Nissan alliance looks headless
have helped their 24-year alliance move forward after four years of stalemate. The deal marks the end of the French group’s domination of its Japanese partner, and addresses festering governance issues. But without a clear leader, decision-making may become fuzzier.
The reshuffle helped Renault convince the Japanese group partner to invest in the electric vehicle division it plans to spin off by the end of the year. For now, the two groups only say that Nissan will be “aiming to become a strategic shareholder” in the unit, to be called Ampere. But there are limits to the reset. Decision-making between two equal partners with separate management will be trickier without a strong joint chairman or chief executive. That may make it harder to resolve squabbles over future investments or technology sharing, for example. The months of negotiations required even to reach this small step forward do not suggest a smooth ride ahead.
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