Nissan Panel to Start Talks on Governance Reform in January

Economy

Tokyo, Dec. 28 (Jiji Press)--A special committee formed by Nissan Motor Co. <7201> to discuss the Japanese automaker's governance reform will start full-fledged talks as early as mid-January, informed sources said Friday.

The panel was formed in the wake of a high-profile financial scandal involving former Nissan Chairman Carlos Ghosn.

The seven-member panel, chaired by lawyer Seiichiro Nishioka, also includes Sadayuki Sakakibara, former chairman of the Japan Business Federation, or Keidanren, and Nissan outside directors.

The panel is expected to consider measures, including steps to increase transparency in the process to decide executive compensation, as Nissan believes the scandal was rooted in the concentration of authority on Ghosn. It will draw up recommendations by the end of March.

One focal point will be whether the panel lays the blame for the scandal on Nissan President and Chief Executive Officer Hiroto Saikawa. As well as Ghosn, Nissan was indicted as a company earlier this month for nondisclosure of part of his compensation.

[Copyright The Jiji Press, Ltd.]

Jiji Press