Nissan's business partners and suppliers Latest Mailing Database were charging a premium for their goods and services. Nissan was obliged to meet its financial commitments and by so doing placed itself further into debt. Finally, the company Latest Mailing Database was in debt to the tune of $22 billion. Even the company's financers were tightening the noose around them. Nissan felt the situation was hopeless. Steps taken to address issues Nissan executives were looking for a way out, Latest Mailing Database a way to rescue the company from entering into bankruptcy. The first approach was to find a partner. Both the newly established DaimlerChrysler and Latest Mailing Database the Ford Motor company were approached, but both organizations rejected the idea of a merger.
Finally, Renault, the French Latest Mailing Database automotive company recovering from a similar predicament, decided to enter into negotiations with the flailing Japanese company. A senior executive at Renault, Carlos Ghosn, was a huge supporter of the merger idea Latest Mailing Database. After much negotiation, the Japanese Ministry of Economy, Trade and Latest Mailing Database Industry agreed to allow Renault to purchase a substantial stake in Nissan. The Nissan-Renault alliance was born and Ghosn was appointed Chief Operating Officer. Nissans Executive Latest Mailing Database decisions and major events I. Creating a global alliance vision.
The following is excerpted from the Nissan/Renault alliance vision: "The Renault-Nissan Alliance is a unique group of two global companies linked Latest Mailing Database by cross-shareholding. They are united for performance though a coherent strategy, common goals, and principles, results-driven synergies, shared best practices. They respect and reinforce their respective Latest Mailing Database identities and brands." The Alliance set itself three objectives, with the goal of being amongst the best three automotive groups in the following areas: 1. Quality. Achieve customer recognition as being a quality and value added product. 2. Technology.