• Mar 14, 2011
Renault says it wrongfully fired three of its executives, Michael Balthazard, Bertrand Rochette and Matthieu Tenenbaum, on suspicion of industrial espionage. The admission comes after French authorities looked into the company's dismissal of the men and determined that Renault's accusations against them were baseless.

Now, Renault has the embarrassing task of meeting with the execs and figuring out a way to compensate them for the loss of their jobs and the scrutiny that comes with this kind of accusation. Renault originally claimed that the execs had satellite bank accounts in Switzerland and Lichtenstein where they hid funds for spying.

Renault says it's now looking at another employee as a possible spying suspect. Renault is also imposing sanctions against those who were involved in the original terminations, including Dominique Gevrey, the head of security who led the original investigation. Gevrey has been charged by French authorities, led by Paris prosecutor Jean Claude Marin (above) with organized fraud for his hand in the firings. Thanks for the tip, Jason!

*Update: Automotive News (sub. req.) reports that Carlos Ghosn gave up his bonus and turned down second-in-command Patrick Pelata's resignation. Pelata had earlier vowed to fall on his sword if it turned out Renault was wrong in firing the three executives accused of industrial espionage.

Source: Financial Times via Business Week | Image: Christophe Ena/AP]


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    • 1 Second Ago
  • 11 Comments
      • 3 Years Ago
      Looks like Mr. Rogers.

      "Kids,can you say ESPIONAGE?" I knew that you could.
      • 3 Years Ago
      That is the creepiest picture ever.
      • 3 Years Ago
      Wow, what a troll face.
      • 3 Years Ago
      LOL @ guy's face.
        • 3 Years Ago
        Looks like an older, crazier Mr. Bean.
      • 3 Years Ago
      Carlos to his employees, "my bad".
        • 3 Years Ago
        Beat me to it. "Woops, my bad."
      • 3 Years Ago
      Oh, SURE...snap his pic right when he's letting out the f@rt of the century!
      • 3 Years Ago
      The people that fired the executives should be fired themselves.
      • 3 Years Ago
      is this the new executive bonus scheme?
      fire them then re-hire them so you can give them time off with compensation.
      hwo can you defame an exec? they are all over paid and full of themselves.
      • 3 Years Ago
      This is begging for a photoshop