Renault CEO Resigns in Wake of Espionage Scandal

VOA Breaking News (Voice of America)
April 11, 2011 at 6:30 pm

French automaker Renault has accepted the resignation of chief operating officer Patrick Pelata, after an embarrassing industrial espionage investigation led to the wrongful dismissal of three senior managers.

Renault made the announcement Monday after a special board meeting to discuss the findings of a probe into the matter. Pelata is expected to be given another job within Renault's alliance with Japanese carmaker Nissan.

Several other Renault executives will also be removed from their posts in connection with the case.

The automaker previously admitted to wrongfully firing three other executives suspected of selling information about Renault's electric car technology to the Chinese. Renault has reached an agreement in principle to compensate the three men.

The French government owns a 15-percent share of Renault.