Nissan President Saikawa to Step Down over Improper Pay

Economy

Tokyo, Sept. 9 (Jiji Press)--Nissan Motor Co. <7201> President Hiroto Saikawa plans to step down over an improper compensation scandal, it was learned Monday.

The move comes amid growing calls for Saikawa to resign due to the company's recent poor business performance, in addition to continued confusion over corporate governance.

Saikawa is suspected of receiving 47 million yen more than he was supposed to by changing the execution date of stock price-linked compensation in violation of in-house rules in 2013, according to a media report.

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