Renault and Nissan make peace in a deal to tighten oversight

FILE - In this March 12, 2019, photo, Renault Chairman Jean-Dominique Senard, left, and Nissan CEO Hiroto Saikawa speak at the start of a joint press conference following a board meeting at the Nissan headquarters in Yokohama, near Tokyo. Japanese automaker Nissan wasn’t consulted about a proposed merger between its French alliance partner Renault and Fiat Chrysler and has little say over the issue. Partnering with a colossal Renault-Fiat Chrysler could help Nissan slash costs on shared components and research. (AP Photo/Eugene Hoshiko, File)

Renault announced on Thursday it had settled a core dispute in its rocky relationship with Nissan ahead of a pivotal meeting of Nissan shareholders next week in Japan, in a deal that officials hope will allow both companies to focus on strengthening the world's largest auto alliance.

The companies had clashed over a Nissan plan, scheduled to be unveiled at the meeting, to strengthen corporate governance after the arrest of Carlos Ghosn, the former head of the Nissan-Renault-Mitsubishi alliance. Jean-Dominique Senard, Renault's chairman, had said he would refuse to back the changes unless Renault was given more representation on three committees being established to tighten oversight at Nissan.

Renault said Thursday that Nissan had accommodated its demands by allowing Thierry Bolloré, Renault's chief executive, to sit on one of the three panels, and Senard on another.