Arrested car boss Carlos Ghosn has resigned as chief executive and chairman of Renault, ending his leadership roles in the auto industry and signalling the start of new era for the French manufacturer.

Ghosn, the most powerful man in car-making until his sensational arrest last November in Japan on financial misconduct charges, had already been sacked as chairman of Japanese auto groups Nissan and Mitsubishi.

But the 64-year-old had held on to the top job at Renault, which has been run on an interim basis by one of his deputies while he languishes in a Japanese jail. But his career came screeching to a halt when Tokyo police arrested him on suspicion of under-reporting millions of dollars in income over eight years.

A senior director from the firm “received last night the letter of resignation from Carlos Ghosn,” Le Maire said at the Davos gathering in Switzerland. As head of Renault since 2005, Ghosn was the keystone of its alliance with Nissan and Mitsubishi, forging an industry powerhouse which together sold more cars than any of its rivals last year.

Ghosn has denied the charges, but with his release from jail unlikely anytime soon, Renault’s board prepared to name new directors.The board is widely expected to name interim chief executive Thierry Bollore as permanent CEO, and Michelin head Jean-Dominique Senard as its chairman both roles were previously held by Ghosn.

“The chairman’s role will be to ensure, alongside the French state, the reinforcement of the Nissan and Renault alliance, which is a strategic priority,” Le Maire told media at the World Economic Forum in Davos where for years Ghosn had enjoyed VIP status. “The chief executive, for his part, is responsible for overseeing good operations on a day-to-day basis,” Le Maire noted.