Nissan Not Considering Call for Saikawa to Resign

Economy Society

Tokyo, Sept. 6 (Jiji Press)--Nissan Motor Co. <7201> is not currently considering asking its President Hiroto Saikawa to resign over a scandal in which he received higher stock-linked compensation than he was supposed to, informed sources said Friday.

Nissan Executive Vice President Asako Hoshino and Senior Vice President Hari Nada were also found to have received such improper compensation.

The company's special team to draw up disciplinary measures plans not to request Saikawa's resignation as it sees what Saikawa did as a violation of internal regulations but not illegal.

In the wake of the scandal, Nissan will review the stock-linked compensation system.

Nissan is expected to face a rush of complaints from its shareholders if the punishment for Saikawa, who has been strongly criticizing Carlos Ghosn, former chairman of the automaker, for his alleged financial misconduct, is seen to lack validity.

[Copyright The Jiji Press, Ltd.]

Jiji Press