Panel Wants Outsiders to Make Up Majority of Nissan Board

Economy

Tokyo, Feb. 21 (Jiji Press)--A special task force on governance reforms for Nissan Motor Co. <7201> is expected to propose that a majority of the Japanese automaker's board of directors be outside members, informed sources said Thursday.

Currently, only three of Nissan's nine board members are outsiders.

The seven-member task force, comprising the Nissan external directors and other outsiders, wants Nissan to strengthen the oversight of its management by outside experts based on lessons learned from the arrest and indictment of former Chairman Carlos Ghosn for alleged financial misconduct.

The task force also plans to call on Nissan to shift to a company with nominating and other committees where outside directors hold a majority, the sources said.

The team is slated to advise Nissan to reduce the authority of its chairman.

[Copyright The Jiji Press, Ltd.]

Jiji Press