Nissan loses another leader

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Words: Nile Bijoux
11 Sep 2019

It hasn’t yet been a year since Carlos Ghosn became embroiled in a financial crime scandal and now Nissan is back in familiar waters. Chief Executive Officer, Hiroto Saikawa, has been asked by Nissan’s board to step down within seven days.

Saikawa is reportedly another victim of pay scandals, telling assembled press earlier this week that he should have “clarified, ironed out everything and handed my baton over to a successor, but I couldn’t finish everything.”

“I wanted to set things right and resign.”

An internal investigation by Nissan discovered that Saikawa had been overpaid by ¥96.5 million via stock appreciation rights, or ¥47 million after tax. That translates to $NZ1.4m and $680k, respectively.

Next in line to the Nissan helm is unclear but about ten candidates are under consideration, with Chief Operating Officer Yasuhiro Yamauchi stepping up in the interim.

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