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Renault could pull out of markets, products in strategy review - interim CEO

Published 19/11/2019, 18:07
© Reuters. FILE PHOTO: French, EU and Renault flags flutter in front of French carmaker Renault headquarters ahead of the company's news conference in Boulogne-Billancourt
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PARIS (Reuters) - Renault (PA:RENA) has not ruled out withdrawing from some products or markets as part of a review of its mid-term goals, the carmaker's interim chief executive Clotilde Delbos said on Tuesday.

The strategic review is expected to be completed within a few months, and investors are hoping that will allow Renault to turn a page on months of uncertainty after the arrest last year of Renault-Nissan alliance boss Carlos Ghosn.

"We will avoid it if we can ... but we have to ask ourselves the question ... can we just keep up the same strategy? I don't think so. The market is changing, we have to adapt," Delbos said at a conference.

Delbos added that she was sure it was possible to make the carmaker's alliance with Nissan a lot more efficient that it was at the moment.

Renault is expected to refocus its operations, as it and Nissan, like many peers, are struggling with falling sales in a faltering global auto market.

Financial chief Delbos was propelled into her current job on a temporary basis after CEO Thierry Bollore's ousting in mid-October.

Delbos has applied to take the job on a permanent basis, two sources familiar with the matter told Reuters earlier this month.

© Reuters. FILE PHOTO: French, EU and Renault flags flutter in front of French carmaker Renault headquarters ahead of the company's news conference in Boulogne-Billancourt

When asked on Tuesday if she wanted to be permanent CEO, Delbos declined to comment.

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