Items filtered by date: Friday, 11 October 2019
Friday, 11 October 2019 15:56

Renault sacks CEO with immediate effect

French carmaker Renault on Friday sacked chief executive Thierry Bollore with immediate effect.
 
A short statement on the company’s website gave no reason for the move and said Chief financial officer Clotilde Delbos is taking over as interim chief executive.
 
Bollore, the former second-in-command, took up the chief executive job in January after the downfall of long-standing chairman and chief executive Carlos Ghosn. Ghosn was arrested in Japan sometime in November 2018 on suspicion of financial misconduct at partner firm Nissan.
 
In a Thursday evening interview with business newspaper Les Echos hours after a board meeting was announced, Bollore denounced what he described as an unexpected coup.
 
Newspaper Le Figaro had reported on Tuesday that Renault chairman Jean-Dominique Senard, who unlike Bollore was drafted in from outside the group to take over part of Ghosn’s role, wanted the chief executive replaced.
 
The decision came days after Nissan appointed a new president and chief executive, Makoto Uchida, its former head of operations in China.
 
The downfall of Ghosn, who headed both firms, has put their 20-year-old alliance, in which Renault is the dominant partner, under strain.
Published in Business
Friday, 11 October 2019 14:48

France plans to block EU membership talks

EU diplomats on Friday said France plans to block the start of EU membership negotiations with Albania and North Macedonia, with the bloc’s European Affairs ministers due to decide on the issue.
 
A decision not to launch negotiations would likely deal a blow to the two Balkan countries after the European Commission found earlier in 2019 that they had done the necessary work to take forward their EU accession bid.
 
The European Union’s enlargement policy serves as a tool to encourage neighbouring states to carry out pro-democratic reforms, offering the prospect of membership in return.
 
But Paris argues that the reform efforts of both countries are not sufficient and are demanding a fundamental overhaul of the accession process as a precondition for talks to begin, according to diplomatic sources.
 
Among other things, France reportedly views the process as too technical and hard to stop if circumstances deteriorate. A French veto would put the country on a collision course with Germany and other member states who believe the time is right to launch negotiations.
 
Earlier, top EU officials including European Council President Donald Tusk and incoming European Commission president Ursula von der Leyen argued that the issue was a test of the Union’s ability to deliver on its promises and look to the future.
 
In particular, proponents argue that North Macedonia should be rewarded for making huge strides by settling a name dispute last year with neighbouring Greece.
 
“Nothing will be won by another postponement, but much can be lost by creating a strategic vacuum in the south-east of Europe,’’ a diplomatic source in Brussels said.
 
Published in World

The Nigerian Petroleum Development Company Limited (NPDC), an Upstream Subsidiary of the Nigerian National Petroleum Corporation (NNPC), has reported a fire incident which occurred at Oil Mining Lease (OML) 20 at Egbema-West, Imo State Monday 7th  October 2019.

A press release by NNPC’s Acting Spokesman, Mr. Samson Makoji, quoted the NPDC Managing Director, Mr. Mansur Sambo, as saying that preliminary investigation revealed that a spark, which ignited the fire during a bunkering activity by vandals, might have caused the incident, which occurred in Well–18T, located within the flooded part of Abacheke Community.

Further report released by the Community Liaison Officer in charge of Abacheke Community indicated that no fatality was recorded.

NPDC stated that appropriate action to minimize the impact of the fire and ensure safety of the community had been taken.

The Upstream company said following successful aerial surveillance carried out Wednesday 9 October, the company was mobilizing and employing the services of a reputable Safety consultant to completely put out the fire.

NPDC advised members of Abacheke community and its environs to avoid the affected area and stay calm, promising to update the general public on the incident soon.

Published in Business
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