Nissan Probe Finds Executives, Including CEO Saikawa, Received Improper Payments

An internal Nissan investigation has revealed that CEO Hiroto Saikawa, alongside other executives, were overpaid under a scheme allegedly organized by former chairman Carlos Ghosn.

Reuters reports that Saikawa addressed reporters on Thursday morning admitting that he had wrongly received stock-related compensation under Ghosn’s scheme and pledged to will return these funds.

A source within Nissan asserts that the improper payments, including tens of millions of yen that Saikawa received through Nissan’s stock appreciation (SAR) scheme, were addressed earlier this week during a meeting of Nissan’s audit committee. The same source added that an upcoming board meeting will discuss possible disciplinary action.

Also Read: Nissan Re-Appoints Hiroto Saikawa As CEO In Revamped Board

Nissan has released a statement asserting that the findings from its investigation will be submitted to its board on September 9.

News about Nissan executives receiving improper compensation comes at a sensitive time for the company, after Saikawa pledged to improve governance following the arrest of Ghosn last year.

The Japanese car manufacturer launched its internal probe after a Japanese magazine published accusations from former director Greg Kelly in June, who alleged that Saikawa had been granted an exception in 2013 to reschedule a stock-linked bonus that increased his payout by 47 million yen ($445,962).

Nissan alliance partner Renault has declined to comment on the matter, but there is a chance the compensation news could exacerbate tensions between the two automakers following Saikawa’s refusal to back a full Nissan-Renault merger as well as a potentially industry-altering deal with Fiat Chrysler Automobiles (FCA).

Hiroto-Saikawa-Nissan-CEO-2

  • charlotteharry57

    Boy, Nissan sure is in a bunch of a mess right now. In addition to this, it claims that 30% of its dealers lose money. Which makes sense due to the pre-2019 MY drastic discounting. Problem is that consumers EXPECT the deep discounting. I STILL have yet to see ONE non-rental ’19 Altima on the roads and inventory is stacked sky-high.

    • Dennis Scipio

      How do you know if those 2019 Altima’s are rentals or not?

      • William rowe

        there are stickers on the back trunk of most rentals that say so stuff like enterprise rental , just the same way dealers try to be slick and put their stickers on a person car

    • ph

      I had a nissan and I find this interesting. 30% of the dealerships are losing money. Poorly engineered cars will terrible service departments and worthless customer service. I know. My 2005 nissan Sentra was one of the worst cars they ever made. Well stated dawg.

  • wait a minute

    I wondered if he’ll be arrested and charged for failing to declare his correct income to the board like Ghosn?

    • William rowe

      no he didn’t want to merge nissan with other car companies outside nissan home country

      • ph

        ok. I will go with that. I still wonder with nissans inept leadership where the company would be considering it took another company outside their borders to clean up their debt or rather what if never happened.

  • ph

    Legally stealing your own money and blaming Carlos for a setup that you have benefited from, but he is in jail. Yet still claim ignorance on the money he received and how he got it

  • William rowe

    So will Saikawa go to jail, of course he won’t because he never tried to merge nissan with a foreign car manufacturer. Ghosn arrest has always been about that and this just proves it even more cause mark my words, Saikawa and those nissan excs will not go to jail.. I think what nissan did to ghosn is why nobody’s buying their stuff, I bet if they release ghosn, the products would start selling again

  • Mr. EP9

    So I take it this has always been a problem but only really came to light because of Carlos Ghosn? It’s no wonder we haven’t gotten a new Z or GT-R and why their cars suck.

  • Six_Tymes

    And I would bet Carlos Ghosn was onto them, so those slime rid Carlos Ghosn. OBVIOUSLY, ill never be able to prove or disprove my theory. But the current heads at Nissan Stunk of scandal since the start.

  • Bill L

    Nissan has been going downhill for quite a while. It’s so sad to watch. They are almost as bad as Chevy now.

    • Frase

      I haven’t been paying much attention to Chevy other than the Blazer being built in Mexico controversy. What’s up with them?

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