Ghosn steps down as Renault CEO

Carlos Ghosn has stepped down from his role as Renault's chairman and chief executive, according to French finance minister Bruno Le Maire. Le Maire revealed the announced in an interview with Bloomberg, stating that he resigned to set up a "new governance in place".

“Carlos Ghosn just resigned and now it is time to define and to put a new governance in place,” Le Maire stated to Bloomberg Television. “Because what is the most important thing is to prepare the future of Renault and the future of the alliance.”

The decision comes only days after the confirmation that Thierry Koskas, who was set to replace Jerome Stoll at the head of the F1 programme, pulled out of his expected new role.

Stoll, who was planning to retire this year, will continue at the head of the Renault F1 team as it pushes back towards the front of the field. Koskas was set to report directly to Ghosn, but the two departures are not believed to be connected.

Renault is expected to hold a board meeting on Thursday to appoint Ghosn's replacement, in which it will also try to maintain its strong alliance with Nissan. Ghosn was set for an early Renault exit following his arrest after being accused of financial misconduct by Japanese authorities. 

This year, Renault will run with a refreshed line-up, bringing in Daniel Ricciardo alongside Nico Hulkenberg. It has also appointed Marcin Bukowski to a senior technical role, having spent the last handful of years working with the FIA