Nissan Mulling More Seats to Renault at Planned Committees

Economy

Tokyo, June 15 (Jiji Press)--Nissan Motor Co. <7201> is considering allocating more seats than previously planned to Renault SA at planned nomination and other committees, informed sources have said.

Renault plans to abstain from a vote on a corporate governance reform proposal at a Nissan general shareholders meeting June 25.

Nissan apparently hopes to win approval of the proposal by increasing the committee seat allocation, the sources said.

Nissan aims to introduce the so-called "company with committees" system to allow outside directors to lead decisions on executive appointments and pay, following criticism of the overconcentration of power in former Chairman Carlos Ghosn.

If a proposal to amend Nissan's articles of incorporation is approved at the upcoming shareholders meeting, nomination, remuneration and audit committees will be created under the new system.

[Copyright The Jiji Press, Ltd.]

Jiji Press