Friday, September 6, 2019

After Ghosn, Nissan CEO Finds Himself in Compliance Failure


A key figure in the ouster of Carlos Ghosn from Nissan is now embroiled in his own scandal. Reuters reports that Nissan’s Chief Executive Officer Hiroto Saikawa admits to have violated his own company’s internal procedures.

The scheme, which was designed under Ghosn, resulted in Saikawa and other Nissan executives receiving “improper compensation” from stocks.

Saikawa denies he had any direct role in the execution of the stock appreciation rights (SAR) scheme, and said he thought proper procedures had already been taken. This adds doubts as to Saikawa’s pledge to improve governance in the wake of Ghosn’s humiliating arrest last year.

Source: Reuters

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