Tuesday, March 22

Renault says unfortunately execs on the spy claims

PARIS - French automaker Renault made a public apology to three managers had to answer accused of industrial espionage, according to the Paris public prosecutor that the trio never said.

Bank accounts in the Switzerland and Liechtenstein, claimed to have heard of the executives and of Renault's electric car, as the key to the case seen technology does not exist, prosecutor Jean-Claude Marin told a press conference on Monday.


The response by the authorities in these countries has enabled the public prosecutor's Office ", released a number of theories, in particular that which was presented in the first complaint by the company Renault," Marin said.

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Renault Chief Executive Carlos Ghosn and Chief Operating Officer Patrick Pelata excused the three men after Marin to repaired comments, giving as security, the injustice against them, after they were fired in January.


Bertrand Rochette, Matthieu Tenenbaum and Michel Balthasar have any wrongdoing from the beginning had denied and legal action against the automaker.


"(Ghosn and Pelata) are committed that reparations to the three EADS Executives are made, and the restored their honour in the public eye," Renault said in a statement.


Marin that the investigation was said, on now with focus on whether Renault was the victim of a fraud, because secure no evidence discovered their complaint of espionage.


The public prosecutor of Paris said Renault had already paid 310,000 euro for misrepresentation and had to pay 390.000 euro.

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"Renault is pressing charges and has submitted for civil procedure, the organized fraud", Renault said.


Renault confirmed it had convened a special Board meeting on Monday and said that it would make a statement afterwards.


The automaker management the case will unravel now is consequences count. Pelata has indicated that his own work may be at risk, say that Renault would accept the consequences "on the highest level of the company.", that is up to me


The 15 percent State-owned, that automakers came under fire for the implementation of own investigation of alleged espionage before the authorities to inform their fears.


The case soon caused tensions with China to a government source investigators followed up a possible link with China said before the introduction of a formal request. Renault and the Government later downplayed talk of the link and China denied involvement upset.


Renault was investigation for suspicion of fraud concerning the espionage accusations placed under Security Manager on Sunday.


An analyst, responsible not be named, said COO Pelata was "not necessarily indispensable, but it is still a significant shock" when he over the affair down state.


The case concerns also Carlos Ghosn, the dynamic CEO of Renault and its partner Nissan Motor.


At an early stage, he spoke out, saying that "Several pieces of evidence" had the automaker for its claims. But in February he said at he personally had participated in the investigation.


"If every time something happens in a company had to you take your pencil and go and look at what people are saying in it safely, the company would stop you to exist," he said.


Carlos Ghosn is seen as crucial for the Alliance Renault-Nissan, however: "Ghosn is now the only real cement the Alliance together hold,", the analyst said.


"In my view it would be a person not possible for everyone to play the two roles of CEO Renault and Nissan CEO, so that we would perhaps in a situation where the two groups apart instead of come closer together would grow" he added.


Brazilian born Ghosn's reputation as an auto industry guru to turn loss-making Nissan from a decade, and now jets between France, Japan, and the United States.


But he has not criticism escaped, come under fire for the failure of the Renault of ambitious 2009 strategic plan-on the larger Krise-- and in February was made responsible for which many industry analysts thought an underwhelming new plan.


Renault one botched spying allegations of rekindled memories in France the most painful episodes in the history of the Fifth Republic, which in 1979 was "Sniffer Plane".


In this case, the Elf was oil company (now part of a total) cheated of large sums of money, an aircraft designed to attracted to oil that was to develop as a joke.


In 2008, Deutsche Telekom by the disclosure was embarrassing that it's on your staff had binary by monitoring illegal call records and Board members and journalists targeted had.


But in June, German prosecutors against former Chairman and CEO of the company.


Copyright 2011 Thomson Reuters.

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