June 15, 2018 / 3:37 PM / 4 months ago

Renault boss Ghosn wins four-year renewal, narrow pay vote

PARIS, June 15 (Reuters) - Renault shareholders approved Chairman and CEO Carlos Ghosn’s 7.4 million euro ($8.6 million) compensation for 2017, averting a boardroom crisis as the carmaker explores closer consolidation with alliance partner Nissan.

Investors backed Ghosn’s renewal for another four-year term and voted by 56 to 43 percent in favour of last year’s payout - in addition to which he received 9.2 million euros in his final year as Nissan chief executive.

Ghosn, who lost a 2016 shareholder vote on pay, agreed to cut his 2018 compensation by 30 percent to secure French government backing for his renewal. France, Renault’s biggest shareholder with a 15 percent stake, opposed the 2017 payout but backed this year’s reduced package. (Reporting by Laurence Frost; editing by David Evans)

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