YOKOHAMA, Japan (AP) — The chief executives of Renault, Nissan and Mitsubishi are setting up a new board to oversee the French-Japanese auto alliance.

Renault Chairman Jean-Dominique Senard, Renault Chief Executive Thierry Bollore, Nissan Chief Executive Hiroto Saikawa and Mitsubishi Motors Corp. Chief Executive Osamu Masuko appeared together Tuesday at Nissan Motor Co.'s Yokohama headquarters to announce what they called "a new start" for the alliance.

The automakers did not announce any changes in their mutual stake holdings. The new board is to meet every month in Paris or Tokyo and oversee the entire partnership.

The former chairman of the alliance, Carlos Ghosn, was barred from attending Tuesday's meeting. Ghosn was arrested in November and released from detention on bail last week. He has been charged with financial misconduct, but says he is innocent.

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