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Ghosn tipped for Renault's top job

Nissan president and CEO Carlos Ghosn is in line to replace Louis Schweitzer as Renault chief executive - reward for his successful achievement in turning around the Japanese carmaker. Schweitzer has nominated Ghosn as chief executive, which requires ratification by the Renault board, when he gives up the post in 2005. He will stay as chairman.

Ghosn was appointed to oversee the revival of Nissan in 1999, after Renault acquired a 38 per cent stake - which this year increased to 44 per cent. Nissan had reported losses in seven of the eight previous years, but returned to profitability in 2000 and for the first half of last year posted record operating profits of $1.56bn (£1.06bn).

Meanwhile, Renault dealers in the UK will next year have an opportunity to retail the Renault Sport Megane, as the company extends its high-performance model programme.

The car, due to debut at the Paris motor show in September, is part of a strategy which will increasingly exploit links to the F1 racing programme. The three-door Renault Sport Megane will feature a 2.0-litre turbocharged engine, turning out well in excess of 200bhp and capable of 140mph.

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