this week. On September 9th Hiroto Saikawa fell on his sword after he, like Mr Ghosn, faced accusations of financial impropriety. Last November Mr Saikawa, chief executive since Mr Ghosn stepped down from that role in 2017, had been instrumental in bringing accusations of financial misconduct against the Frenchman, who was voted off the board in April.
Mr Ghosn has been under house arrest since the spring, awaiting trial on multiple charges, including underreporting his compensation by about ¥9bn from 2010 to 2018. Nissan’s board this week put the cost of the Ghosn affair at ¥35bn. The charge against Mr Saikawa—that he improperly pocketed ¥47m in performance-linked bonuses—is peanuts by comparison.
Many shareholders wanted Mr Saikawa out for failing to heal the rift. Industry-watchers think a full Franco-Japanese merger makes sense in an industry dominated by giants like Toyota or Volkswagen, which churn out 10m cars a year and whose huge economies of scale leave more to invest in pricey electric and driverless technology. But Nissan, which makes more cars than Renault and resents the French claim on its profits, has resisted such a tie-up.
Correction : A previous version of this article named Mr Saikawa as Nissan’s chairman. He never held that post. Sorry
its an increasingly boring company. hyundai is coming for the spot nissan used to occupy. their CVT's are horrible. seriously, the only interesting thing about them is the new GTR, and even thats is not very interesting. they havent come out with a new sports car in 10 years.
A convenient bull to slaughter for show.! He takes home millions head down.. So do main stockholders.. Only losers are.. Old workers n families loss of their income health insurance.compensation next to nothing.. THEN.. A new plant young healthy workers elsewhere.. WITH OLD MONEY
must be down to Brexit
No cutting jobs is not a solution! Learn from China’s population and development.
Make better cars.
Luck of leadership and governance, but most critical point for Nissan is top management moral and sense of responsiblity.
the world is changing
How these guys ousted Carlos was such a disgrace. Same with Olympus. Endemic governance issues in Japan
Build reliable and marketable vehicles instead of ugly looking designs.
Sounds like the Democratic race for the Presidency
In addition to Nissan transmission problems!!!
Nissan had become too much European style in management, now it's time to return to the Japanese style, which puts weight on basic manufacturing technology
The Palace Coup against Ghosn was clearly the Japanese wanting their own back. Insular as they are, they watched in repressed horror as Renault came in. Gaijin are out, & now the Japanese are discovering the rot within. Too bad this is not the 70s when it could be a secret
The urge to show a growth every quarter will throw up victims endlessly....
Probably if they dig deeper they might find more weird stuff happening
There is something not normal in Nissan. Very strange outcome. I don't understand the ways they are finding suddenly missing money or misusing. Isn't there a budget. Arnt there internal abs external audit. So I think Nissan board must be a part of this issue.
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