TOKYO - A committee tasked with revamping corporate governance at Nissan Motor Co is expected to recommend on Wednesday a bigger role for external directors in overseeing the Japanese automaker following Carlos Ghosn’s arrest and ouster as chairman.
To decentralize the power structure at Japan’s second-largest automaker, the seven-member committee will likely also suggest that the company establish committees for board member nominations, auditing and for determining executive pay, according to a person familiar with the matter. Like executives at many Japanese companies, Ghosn held both chairmanship positions at Nissan, adding to his influence at the automaker.
Ghosn is facing charges related to under-reporting his Nissan salary by around $82 million over nearly a decade, and for temporarily shifting personal financial losses onto Nissan’s books during the global financial crisis.
Source: Car News Wire (carnewswire.net)
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Counting the cost: Nissan unpicks Ghosn legacy of 'high-handedness' and 'wrongdoings'In September 2007, despite weighty responsibilities at the helm of Nissan Motor ... Absolute power corrupts absolutely. A reminder that power and position is transient! Well, he saved Nissan after decades of mismanagement. If they had any class they would have done this all behind closed doors. In Japan they always talk about Honor, but it's just a word now.
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