Nissan to Hire JXTG's Kimura as Board Chairman

Economy

Tokyo, June 21 (Jiji Press)--Nissan Motor Co. <7201> said Friday it will hire Yasushi Kimura, consultant at oil distributor JXTG Holdings Inc. <5020>, as chairman of its board.

The appointment of Kimura, who is set to be named an outside director at Nissan at a shareholder meeting on Tuesday, is part of the Japanese automaker's governance reform efforts following last year's arrest of former Chairman Carlos Ghosn.

Ghosn concurrently served as chairman and chairman of the board before being ousted from Nissan. The company scrapped the post of chairman to prevent the concentration of power seen when Ghosn was at the helm.

While appointing a person outside Nissan as chairman of the board to increase its oversight of management, the company will give the post of vice chairman of the broad to Jean-Dominique Senard, chairman of Renault SA, its French alliance partner.

Nissan plans to present a governance reform plan, which calls for creating board committees led by outside directors, for approval at the shareholder meeting.

[Copyright The Jiji Press, Ltd.]

Jiji Press