Bankers Devise Way to Pay Undisclosed Bonuses To Managers After French Government Complains Of Pay

Renault-Nissan alliance bankers have drawn up plans designed to channel millions of euros in additional, undisclosed bonuses to Chairman Carlos Ghosn and other managers via a specially created service company, according to documents seen by Reuters.

Under the preliminary proposal, Renault (RENA.PA), Nissan (7201.T) and Mitsubishi (7211.T) would pay the Dutch-registered company a share of new synergies from their carmaking alliance, set to top 5.5 billion euros ($6.2 billion) next year.

The funds would be passed on as cash and stock bonuses to "encourage executives to pursue synergy opportunities", according to a presentation by Ardea Partners, an investment banking firm advising Ghosn on closer alliance integration.

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MDarringer - 6/13/2017 4:22:37 PM

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Only the French could love something so patently unethical.