Tue, Sep 10, 2019 - Page 10 News List

Nissan board to meet, chief faces pressure to resign

NO CHARGES:Saikawa said he had received dubious payments, but blamed them on the system he said Ghosn had created at the firm


Nissan Motor Co chief executive officer Hiroto Saikawa yesterday said that he is working to pass over the helm at the Japanese automaker to the next generation, indicating he was ready to step down.

Calls for his resignation, which arose after the arrest last year of his predecessor Carlos Ghosn on various financial misconduct allegations, have grown louder after Saikawa acknowledged last week that he had received dubious payments.

The income was linked to the stock price of Nissan, and he has said that his pay was inflated by illicitly adjusting the date for cashing in.

The automaker’s board was meeting yesterday to look into the allegations against Saikawa.

Ghosn, who is out on bail and awaiting trial, says he is innocent.

Saikawa has not been charged.

Nissan had no comment on Saikawa’s possible resignation.

“I have been trying to do what needs to be done so that I can pass the baton over as soon as possible,” he told reporters, referring to his willingness to leave his job.

Saikawa has said that he did not know about the improprieties, promised to return the money and blamed the system he said Ghosn had created at Nissan for the dubious payments.

Japanese media reports said Saikawa had received tens of millions of yen in extra compensation.

Ghosn has been charged with falsifying documents on deferred compensation, which means he did not receive any of the money.

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