12:35 ET - Fiat Chrysler says it would seek a majority independent board for the future company, with Renault following better corporate governance practices. Strong governance is likely to play a key role in the terms of a potential merger, given the heavy scrutiny that the automotive industry has faced lately, linked to environmental issues (Volkswagen and Mercedes) and governance scandals (Renault and Nissan). Board independence and strong corporate governance are key elements for ESG investors and deals like these, if successful, may help improve the current negative sentiment tied to the auto industry. (goncalo.lousada@dowjones.com)

(END) Dow Jones Newswires

May 29, 2019 12:50 ET (16:50 GMT)

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