Nissan Motor Co is not currently considering asking embattled CEO Hirot...
FILE PHOTO - Nissan CEO Hiroto Saikawa attends a news conference to release first quarter earnings at the company headquarters in Yokohama, Japan July 25, 2019. REUTERS/Issei Kato
An internal investigation found that Saikawa and other executives had received improper compensation, Reuters reported on Thursday, raising doubts about Saikawa’s pledge to improve governance in the wake of former Chairman Carlos Ghosn’s arrest last year for alleged financial misconduct. “There’s no illegality,” the source said, declining to be identified because the information has not been made public.Saikawa apologized on Thursday and vowed to return any improperly paid funds as he admitted to Japanese reporters that he had wrongly received stock-related compensation under “a scheme of the Ghosn era”.
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Nissan CEO Saikawa admits receiving excess payHiroto Saikawa, the chief executive of scandal-plagued Nissan, acknowledged receiving inappropriate payments from the Japanese automaker but denied he ordered it or knew about it.
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Nissan probe finds CEO Saikawa, other execs overpaid in compliance failure: sourceNissan CEO, others received excess compensation in violation of rules: source. More here:
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Nissan CEO, others received excess compensation in violation of rules: sourceNissan Chief Executive Hiroto Saikawa and multiple other executives received excess compensation in violation of rules: source
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Nissan CEO to Return Part of His Pay Following AuditNissan Chief Executive Hiroto Saikawa said he will return a portion of his performance-based pay, after Nissan auditors found that the amount was too high.
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Nissan CEO has overstayed a lukewarm welcomeHiroto 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 $25 bln carmaker. Investors have no cause to remain patient.
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