Nissan’s CEO has stepped down amid controversy over his pay. Finding someone to lead a turnaround and navigate a strained alliance with Renault won’t be easy, writes petesweeneypro.
Nissan Motor said on Sept. 9 that Chief Executive Hiroto Saikawa would step down from the role on Sept. 16. Chief Operating Officer Yasuhiro Yamauchi will take over as acting CEO.
Saikawa on Sept. 5 admitted to being overpaid in stock-related compensation, apologized and told reporters he would return any improperly received funds. Nissan said its audit committee is not planning to treat those who benefited from “improperly handling of compensation” as being responsible. “There is no reason to believe that any of these individuals were complicit in misconduct, since they were unaware of the improper methods used,” the company said.
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