Bollore, effectively the heir apparent since he was elevated to chief operating officer in February, was named interim deputy CEO, with the same powers as Ghosn, Renault said in a statement late Tuesday.
Philippe Lagayette will chair the board’s meetings as lead independent director.
Renault’s board took no action against Ghosn, and asked the Japanese company to hand over its findings on his alleged misdeeds.
The board adopted a cautious approach to refrain from escalating a feud with Nissan, and didn’t discuss the future of the alliance’s structure in depth, a person familiar with the matter said.
That’s after Nissan CEO Hiroto Saikawa had harsh words for Ghosn on Monday when he unveiled the allegations against him.
“At this stage, the board is unable to comment on the evidence seemingly gathered against Mr Ghosn by Nissan and the Japanese judicial authorities,” Renault’s board said in the statement.
Any other discussion on the future of the alliance between the carmakers is now on hold until Nissan’s board meets to decide on Ghosn’s fate, said the person.
Bollore, 55, a soft-spoken French national from Brittany, joined Renault in 2012 from car-parts supplier Faurecia SA, where he rose through the ranks to become vice president with responsibilities for global industry, quality and packaging.
He started his career at tiremaker Michelin, working there for a number of years at the same time as Ghosn, who has called him a “good candidate” to become Renault CEO.
Ghosn stands accused of under-reporting income of about US$44 million (RM184 million) and misusing company funds at Nissan Motor Co, where he was also chairman.
The developments cast doubt over the future of the long-standing Renault-Nissan-Mitsubishi alliance, held together by his towering presence.
Nissan told Renault board members Monday the company is looking into potential financial wrongdoing at the alliance’s Amsterdam-based joint venture RNBV, three people familiar with the matter said.
The French government, Renault’s biggest shareholder, distanced itself from Ghosn in seeking a replacement.
Finance Minister Bruno Le Maire said the 64-year-old executive was “not in a position to run the group,” yet stopped short of demanding his ouster.
Both Le Maire and his Japanese counterpart, Economy Minister Hiroshige Seko, reaffirmed their support for the alliance.
Ghosn hasn’t commented on the developments.
Lagayette, 75, has been on Renault’s board since 2007, where he leads the audit, risks and ethics committee. He’s also a member of the remuneration committee.
Set to leave Renault in 2022, Ghosn had been laying the groundwork to ensure a future for the alliance, including the option of a merger.
The setup has come under pressure from Nissan in recent years to address a lopsided balance of power after the Japanese company consistently outgrew Renault in sales and profits.
Through complex cross-shareholding arrangements, Renault owns 43% in Nissan, including voting rights, while Nissan owns a 15% non-voting stake in Renault.
In a letter sent to Renault employees on Monday, Bollore expressed full support for Ghosn and pledged to preserve the alliance.