Renault boss quits after spy case

Mr Pelata had his resignation as chief operating officer accepted by Renault

Renault’s chief operating officer Patrick Pelata has resigned, but will remain within the firm, following an industrial espionage scandal.

Three executives from the group’s security service will leave the French car-maker, which is 15% state-owned.

Meanwhile, compensation will be paid to another three executives who were wrongly fired over the affair.

It comes after investigations into the theft of the electric car technology, which was first detected last August.

Another trio of top executives will be relieved of their duties while their fate is decided, Renault added.

Renault accepted Mr Pelata’s resignation at an extraordinary board meeting on Monday to discuss the findings of an audit into the matter.

“The audits thus evidenced the chain of failings and dysfunctions within the company, particularly as regards the supervision and control of the group security department,” a Renault statement said.

Mr Pelata joined Renault in 1984 and joined the management committee in 1998.

“Pelata as COO did a solid job of guiding Renault through the last few years,” said Morgan Stanley analyst Stuart Pearson.

Renault and its partner Nissan have invested extensively in electric vehicle technology

Car manufacturing is an important part of the French economy, and a major employer.

One of the biggest advantages that Western carmakers have is their advanced technology, which enables them to compete against cheaper labour costs outside Europe.

The carmaker, alongside its partner Nissan, has invested heavily in electric vehicle technology.

Both plan to launch a number of new electric vehicles over the next two years.

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