On March 27, 1999 the Global Partnership Agreement was signed by both Schweitzer and Hanawa. This was a commitment between Renault and Nissan in order to achieve certain types of synergies while maintaining the identities of their individual brands. The partnership was set for by a Global Alliance Committee that was co-chaired by Renault and Nissan Chief Executive Officers. The final financial terms for the Renault-Nissan alliance was an investment of 643 billion Yin ($5.4 billion) by Renault. For a total of 605 billion Yin, Renault received 36.8% of equity in Nissan and 22.5% of Nissan Diesel. In addition, the left over 38 billion Yin, Renault possessed Nissan’s financial subsidiaries that were within Europe. The agreement also included the options for Renault to increase their stake in Nissan Motors and for Nissan to purchase equity within Renault. Renault achieved three positions in Nissan: Chief Operating Officer; Vice President of Product Planning; and Deputy Chief Financial Officer. There was only one seat within Renault that was held for Hanawa. The Renault-Nissan relationship has greatly evolved since 1999. Along with adding partners to the partnership and sharing a Chief Executive Officer, both Renault and Nissan have increased their shareholdings and have expanded their brands. In 2009, Renault-Nissan had two joint companies and seven committees that managed over 30 cross-company teams, task teams and functional task teams. References Daimler and Renault-Nissan join forces. (2010, April 8). The Economist, 66-67.Ghosn, C. (2002). Saving the business without losing the company. Harvard Business ReviewKorine, H., Asakawa, K., & Gomez, P-Y. (2002). Partnering with the unfamiliar: Lessons from the case of Renault and Nissan. Business Strategy Review, 13(2), 41-50.Thornton E. et al. (1999, October 11). A new order at Nissan. Business Week, 54.Woodruff, D. (1999, March 31). Renault bets Ghosn can drive Nissan. Wall Street Journal, p. 1.