Renault begins new era after Carlos Ghosn quits

London (CNN Business)Carlos Ghosn has been replaced as chairman and CEO of Renault, severing the final link between the jailed executive and the industry alliance he created.

Ghosn resigned on Wednesday night, according to the French government, which owns 15% of Renault (RNLSY). He had been CEO of the French carmaker since 2005.
The legendary auto executive has spent the last two months in jail since his arrest in Tokyo on November 19. He has been charged by Japanese prosecutors with financial misconduct while head of automaker Nissan (NSANF). Ghosn, 64, denies the charges, but prosecutors have argued successfully that he should be kept in jail awaiting trial.

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