Carmaker giant Nissan’s CEO Saikawa Resigns After Admitting He Was Overpaid
Chief Operating Officer Yasuhiro Yamauchi will be acting CEO as Nissan searches for a successor
HONK KONG– Japanese carmaker giant Nissan’s Chief Executive Officer Hiroto Saikawa has tendered his resignation, dealing a new blow to the company as it struggles to recover from the ousting of Carlos Ghosn last November.
The company’s board of directors announced Saikawa’s departure, which is effective September 16, after a meeting on Monday. It named Chief Operating Officer Yasuhiro Yamauchi as acting CEO while Nissan searches for a successor.
Saikawa’s resignation came just days after he admitted to reporters in Japan that he and other top Nissan executives were overpaid as part of a stock-related payment plan. He denied any wrongdoing, and said he would return excess funds.