Ghosn Seen Ignoring Shareholder Decisions in Setting His Pay
Tokyo, Dec. 12 (Jiji Press)--Former Nissan Motor Co. <7201> Chairman Carlos Ghosn is suspected of setting his executive pay at the major Japanese automaker for years by ignoring upper limits approved at shareholders' meetings, informed sources said Wednesday.
According to the sources, Ghosn told Tokyo prosecutors that he was doing a job at Nissan that would worth some 2 billion yen in pay.
The prosecutors believe that Ghosn set his executive remuneration without taking into account decisions made by shareholders.
As Ghosn had the right to decide how much Nissan executives, including himself, would receive, he is believed to have set his compensation based on remuneration paid to chief executive officers of major U.S. automakers.
His annual pay was some 2.4 billion yen for the two years through fiscal 2017, which ended in March, also according to the sources.
[Copyright The Jiji Press, Ltd.]