Renault name Nissan's Ghosn to board

TOKYO, April 24 Reuters reported that French automaker Renault SA plans to appoint Nissan Motor Co (7201.T) chief executive Carlos Ghosn to its board, a move that could eventually lead to his promotion to chairman, the Financial Times said on Wednesday.

The newspaper said in its on-line edition that Renault, which has a 44.4 percent stake in Japan's third-largest automaker, will inform shareholders on Friday that one of the French government's three board members will step down to make way for Ghosn.

The French government last month cut its stake in Renault to 27.1 percent from 43.8 percent.

The move is part of an extension of the alliance between Renault and Nissan, which holds a 13.5 percent stake in the French automaker.

Nissan was on the brink of bankruptcy when Ghosn was sent in by Renault in 1999, but has rebounded under his stewardship and expects record profits for the business year ended in March.

The Financial Times said the appointment of Ghosn to the board would open the door for him to replace current Renault Chairman Louis Schweitzer, who intends to retire in 2005.

The newspaper said Ghosn has told colleagues he intends to spend another three years at Nissan, and his appointment to the Renault board would be for four years.