Nissan’s Chief Executive Officer, Hiroto Saikawa will step down on September 16, after the Nissan Board requested his resignation over a scandal linked to overpayment of remuneration.
Initially it appeared that Saikawa had been overpaid by USD$300,000 however more details have emerged, revealing that the overpayment was around USD$1.2 million.
Saikawa is the man who engineered a clumsy coup d’etat, resulting in former Chairman of the Renault-Nissan-Mitsubishi Alliance, Carlos Ghosn, being arrested and jailed on similar charges of misreporting remuneration.
Ghosn’s case is not scheduled to be heard until later this year, but already Japanese media are speculating that under the circumstances, prosecutors may not proceed with the court case.
At the press conference late last night the Board said Nissan’s COO Yasuhiro Yamauchi will take over operational duties until the Board nominates a successor to Saikawa. There has been no reaction from Ghosn's Tokyo bunker.