“Sincere apologies” have been given by Renault Chief Executive Officer (CEO) Carlos Ghosn regarding the spy allegations against the three executives. The incident had been escalated to French President Nicolas Sarkozy, whereby the country accused China of engaging in “economic warfare” and alleged espionage activities.
Paris prosecutor Jean-Claude Marin said, “We are looking at possible fraud. It seems that Renault was perhaps not the victim of indelicate employees but of possible confident tricksters.” Paris prosecutors now say they did not find grounds to accuse the three executives. The initial case of electric-car technology secrets being sold has resulted in authorities “dismissing a certain number of theories, notably that which was put forward in the initial complaint by the company Renault,” according to a Reuters report.
Renault is attempting to reinstate and compensate the three executives who were dismissed on false accusations. CEO Ghosn and Chief Operating Officer Patrick Pélata said they will forgo their 2010 bonuses and profits from 2011 stock options, but Ghosn declined to accept Pélata’s resignation over the matter. The company also issued an apology on national television to the three executives on Monday.
According to a statement from Renault, “[The company is] committed that reparations be made to the three executives, and that their honor in the public eye be restored. They further acknowledge the serious personal harm that they and their families have suffered. Carlos Ghosn and Patrick Pélata will personally meet with Messrs Balthazard, Rochette, and Tenenbaum as soon as possible.”
The French intelligence services were also involved in the investigation. The focus is now on Renault being the target of fraud rather than espionage, said Marin.
