PARIS -- A senior management shake-up at Renault is on the cards, a source close to the French government, a major shareholder in the automaker, said on Wednesday after reports that CEO Thierry Bollore was set to be replaced.
Renault Jean-Dominique Senard is poised to start a process to replace Bollore, as the company tries to draw a line under an era marked by the arrest of former boss Carlos Ghosn, French media said.
But the source who is familiar with the thinking of the French government, which has a 15 percent stake in Renault, said Bollore's fate had not been determined.
"The question of pursuing a full renewal of (Renault's) management is indeed on the table," the source said. "But nothing has been decided, and it is up to Renault to decide."
Business paper Le Figaro said Senard could present the succession proposal at the next board meeting on Oct. 18.
Renault declined to comment.
The automaker, like its alliance partner Nissan, is still reeling from the arrest last year of Ghosn on allegations of financial misconduct, which he denies.
Bollore, long Ghosn's right hand man, replaced Ghosn as CEO in January when Senard, Michelin's former chairman, was named Renault chairman.
Les Echos reported that Nissan has little confidence in Bollore and his relations with Senard are no more than cordial.
Bollore, 56, has long been viewed with suspicion by the French government as a holdover from the Ghosn years, people familiar with the situation told Bloomberg.
As well as stabilizing the alliance with Nissan, Senard was tasked with shaking up the Renault's governance, which he has yet to do.
French Finance Minster Bruno Le Maire said on the sidelines of an official meeting in Luxembourg that it was not up to the state to interfere in Renault's situation, although he said he backed any move that Senard might make.
"We have full confidence in Jean-Dominique Senard and Renault's board to choose the best governance and people that will apply the industrial strategy that the state has defined for its technological transformation," Le Maire said.
Any change at the top of Renault would follow a management overhaul at Nissan, and could help ease tensions between the alliance partners.
The source close to the French government said Bollore's fate was not tied to the shakeup at Nissan. "There is no kind of deal or quid pro quo," the source said.
Nissan on Tuesday named Makoto Uchida as CEO. Uchida, until now the head of Nissan's China business, is known for his close ties to Renault, which has a 43.3 percent stake in Nissan.
Bloomberg contributed to this report