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November 19, 2019 04:04 PM

Renault could pull out of markets, ax products in strategy review

Reuters
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    PARIS -- Renault could withdraw from some markets or ax some models as part of a review of its midterm goals.

    "We will avoid it if we can but we have to ask ourselves the question: Can we just keep up the same strategy? I don't think so. The market is changing, we have to adapt," the automaker's interim CEO, Clotilde Delbos, said on Tuesday at a conference.

    The review is expected to be completed within a few months and investors are hoping that it will allow Renault to turn a page on months of uncertainty after the arrest last year of Renault-Nissan alliance boss Carlos Ghosn.

    Renault is expected to refocus its operations as the company and its alliance partner Nissan struggle with falling sales in a faltering global market.

    Delbos said she was sure it was possible to make Renault's alliance with Nissan a lot more efficient that it was at the moment.

    Financial chief Delbos was propelled into her current job on a temporary basis after CEO Thierry Bollore's ousting in mid-October.

    Delbos has applied to take the job on a permanent basis, two sources familiar with the matter told Reuters earlier this month.

    When asked on Tuesday if she wanted to be permanent CEO, Delbos declined to comment.

    French press reports said the CEO of Volkswagen's Seat brand, Luca de Meo, is a top contender for the post.

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