Nissan CEO Hiroto Saikawa and others may have padded their pay. The figures appear small compared to allegations levied against Carlos Ghosn, but it hardly matters. Saikawa has not rebuilt credibility or fixed performance at the carmaker. petesweeneypro:
An internal probe at Nissan Motor determined that Chief Executive Hiroto Saikawa and multiple other executives received excess stock performance-related compensation in violation of company rules, Reuters reported on Sept. 5, citing a source with direct knowledge of the matter. The source said the misconduct was disclosed at a meeting of Nissan’s audit committee, a day earlier.
Jiji news agency reported on Sept. 5 that Saikawa acknowledged the overpayment, adding he would return the portion he wrongfully received. Nissan has not commented. In an interview with Bungei Shunju magazine in June, former Nissan director Greg Kelly said Saikawa was granted an exception in 2013 to reschedule a stock-linked bonus, bumping up the payout by 47 million yen .
Nissan Motor will postpone a four-tranche domestic bond offering that was scheduled to price on Sept. 5, DealWatch, IFR’s sister publication in Japan reported. Nissan had planned to raise about 250 billion yen, according to the report.
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