The French company’s board will meet Thursday and is expected to appoint Michelin chief Jean-Dominique Senard as chairman and to make interim Chief Executive Officer Thierry Bollore’s role permanent, said a person familiar with the matter, who asked not to be identified discussing private matters.

Renault is negotiating with Ghosn over the terms of his departure and he is ready to resign under the right conditions, a person with knowledge of the talks said.

The French state, which is Renault’s most powerful shareholder with a 15 percent stake and two board seats, is backing Senard for the chairman role.

“Senard would be an excellent chairman of Renault,” Finance Minister Bruno Le Maire said Tuesday in an interview on BFM TV. Le Maire didn’t comment on Bollore.

Renault board members and Ghosn’s legal team are reviewing issues including his non-competition agreement and pension benefits, people familiar with the matter said.

A spokeswoman for the Ghosn family declined to comment.

Le Maire said the interim management at Renault hadn’t received a letter of resignation Tuesday evening Europe time.

Ghosn, 64, has been held in custody in Japan since Nov. 19, accused of crimes that could put him behind bars for decades.

The auto titan has been indicted for understating his income at Nissan Motor by tens of millions of dollars and transferring personal trading losses to the carmaker.

His latest bail application was rejected Tuesday. Ghosn has denied wrongdoing.