Ex-Nissan Exec Requested Handsome Pay for Ghosn: Saikawa
Tokyo, Feb. 24 (Jiji Press)--Former Nissan Motor Co. <7201> chief Hiroto Saikawa told a court Wednesday that former representative director Greg Kelly asked him to pay generous compensation after retirement to former Chairman Carlos Ghosn.
Saikawa, 67, former president and CEO of the Japanese automaker, made the remarks at Tokyo District Court as a witness at the trial of Kelly, 64, who has been charged with helping Ghosn, 66, conceal his pay.
The former CEO said Kelly told him around 2011 that Ghosn's compensation was lower than U.S. and European standards. Saikawa served as representative director and executive vice president at the time.
"Kelly said that we needed to prepare handsome packages after retirement" for Ghosn in order to keep him motivated and prevent him from leaving Nissan for other firms, Saikawa said, adding that he agreed to Kelly's request.
The former CEO signed documents relating to Ghosn's compensation after retirement several times. Saikawa said, "I signed the documents without reading them carefully."
[Copyright The Jiji Press, Ltd.]