Renault SA's board of directors makes it official, appointing Carlos Ghosn the auto maker's new president and CEO.

Ghosn replaces Louis Schweitzer, who will remain on as chairman of the board. Schweitzer has headed Renault since being named CEO in 1992. (See related story: Schweitzer Predicts Strong 2005 for Renault; Reflects on Career)

In addition to running Renault, Ghosn remains president and CEO of Nissan Motor Co. Ltd., Renault's Japanese affiliate. (See related story: Ghosn's Team in Place at Renault)