Thierry Bollore, chief competitive officer of Renault SA, speaks at the IAA Frankfurt Motor Show in Frankfurt, Germany, on Sept. 12, 2017.

Renault has named Clotilde Delbos, the french automaker's current chief financial officer, as its CEO for an interim period.

Delbos will replace Thierry Bollore who was ousted by the board in a vote on Friday morning with immediate effect. The board also appointed Jean-Dominique Senard as the interim president of Renault.

Shares of Renault were trading more than 3.3% higher on Friday morning but remain lower by around 4% year-to-date.

"The board of directors decided to end the mandate of Mr. Thierry Bollore as Chief Executive Officer of Renault ... with immediate effect," the firm said in a statement.

Renault, along with partner Nissan, moved into the spotlight after the arrest of its former boss Carlos Ghosn in Tokyo last November on allegations of financial misconduct — a charge that Ghosn has denied. It transpired that Nissan executives had been helping Japanese prosecutors with evidence.