Nissan to Scrap Advisory Posts for Ex-Executives

Economy

Tokyo, Jan. 16 (Jiji Press)--Japan's Nissan Motor Co. <7201> said Thursday that it has decided to abolish its advisory and consultant posts for former executives in principle.

The policy was included in a report on business improvement measures the automaker submitted to the Tokyo Stock Exchange to prevent recurrence of the misconduct by executives including former Chairman Carlos Ghosn.

The decision will make it effectively impossible for former Nissan leaders to maintain their influence over the management of the automaker.

Among them, former President and Chief Executive Officer Hiroto Saikawa will resign from the board after an extraordinary meeting of shareholders in February.

The report listed Ghosn's underreported pay worth 12.3 billion yen as an example of the misconduct at Nissan.

[Copyright The Jiji Press, Ltd.]

Jiji Press