Nissan CEO, others received excess compensation in violation of rules: source. More here:
TOKYO - Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn.
The improper payments, including tens of millions of yen Saikawa received through the SAR scheme, were disclosed on Wednesday at a meeting of Nissan’s audit committee, said the source who declined to be identified because the information is not public. The company has been trying to strengthen governance, slash costs and boost flagging profitability amid persistent allegations of financial misconduct stemming from Ghosn’s 20-year reign at Japan’s second-biggest automaker.
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
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