Nissan likely to choose successor of president

The Yomiuri Shimbun Nissan Motor Co. was set on Monday to hold its board of directors meeting, with a discussion likely about President and CEO Hiroto Saikawa’s inappropriate receipt of tens of millions of yen as part of his remuneration.

It is believed that the amount of money added to Saikawa’s director’s remuneration is stock-price-linked.

In the wake of the scandal surrounding former Chairman Carlos Ghosn, who has been indicted, Nissan’s board has been reviewing its management systems. It is likely that debates for selecting a successor to Saikawa as the top official will progress.

In the morning on Monday, Saikawa told reporters, “[Selection of the successor] by the nomination committee has properly started so that my post can be taken over as soon as possible. I have made preparations for turning over my job to next-generation people.”

Saikawa suggested that he will step down from the president post as soon as possible so that the successor can take over his job.

About a news report that Saikawa indicated his will to resign, he said, “I don’t know where that story came from.”

At Monday’s board of directors meeting, the result of an in-house investigation into Saikawa’s alleged improper remuneration was to be reported.

According to sources, Saikawa’s having received the additional remuneration does not constitute any violation of laws, but his ethical accountability should be questioned. It is possible that the board may consider disciplinary action for Saikawa.

Some top Nissan executives have urged that Saikawa step down quickly.Speech

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