Business News Carlos Ghosn

  • TOKYO/ PARIS, Sept 12- The fate of Nissan CEO Hiroto Saikawa was sealed by two external directors who persuaded the board on Monday to oust the company veteran and spare the carmaker more reputational damage after a string of high-profile scandals, two sources said. Outside directors Jenifer Rogers and Keiko Ihara, members of corporate governance committees...

  • SEATTLE/ PARIS, Sept 12- The head of Nissan Motor Co's China business and an executive tasked with leading its revival have emerged as two of the top candidates to take over as the next CEO of the troubled Japanese automaker, four people familiar with the matter said. There is also a possibility that another candidate could still be successful, with temporary Chief...

  • TOKYO, Sept 10- The next head of Nissan Motor Co will need to prioritise a recovery in profits at the troubled Japanese firm ahead of trying to fix its relationship with top shareholder Renault SA, executives and analysts say. Japan's second-largest automaker said on Monday CEO Hiroto Saikawa would step down on Sept. 16 after he admitted to being overpaid in...

  • Hiroto Saikawa, president and chief executive officer of Nissan Motor

    Suddenly, Nissan CEO Hiroto Saikawa — who ordered the investigation into his former mentor — finds himself in the spotlight and standing accused of pocketing excess pay, too.

  • *Saikawa to step down on Sept. 16. YOKOHAMA, Sept 9- Nissan Motor Co CEO Hiroto Saikawa will resign on Sept. 16, the automaker said on Monday, bowing to pressure after he admitted to being improperly overpaid and marking further upheaval at a company battered by scandal and plunging profit. Saikawa, who admitted to the overpayment last week, will be temporarily...

  • Hiroto Saikawa, president and chief executive officer of Nissan Motor Co., speaks to a member of the media in Tokyo, Japan, on Wednesday, June 12, 2019.

    Nissan Motor CEO Hiroto Saikawa is stepping down after an internal company investigation revealed falsified documents that boosted his compensation in 2013 by about $900,000.

  • *Nissan CEO has signaled intention to resign- source. TOKYO/ PARIS, Sept 9- Nissan Motor Co's nominations committee will discuss potential successors for Hiroto Saikawa at a meeting on Monday, a source said, as pressure deepened on the embattled chief executive after he admitted to improper compensation. The automaker said Board Chairman Yasushi Kimura and...

  • *Nissan board members due to meet on Monday. TOKYO, Sept 8- Nissan Motor Co Chief Executive Hiroto Saikawa has told some executives he plans to resign, the Nikkei newspaper reported on Sunday, in what would mark the latest upheaval over governance at the troubled Japanese automaker. Nissan, which has struggled to right itself after former chairman Carlos Ghosn was...

  • *No illegality in Saikawa's actions- source. TOKYO, Sept 6- Nissan Motor Co is not currently considering asking embattled CEO Hiroto Saikawa to resign, two people with knowledge of the matter told Reuters on Friday, a day after he admitted to being overpaid in violation of internal procedures. An internal investigation found that Saikawa and other executives had...

  • TOKYO, Sept 5- Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn. "I am deeply sorry for causing concern," Saikawa said, according to Jiji Press. In other comments reported by...

  • TOKYO, Sept 5- Nissan Motor Co Chief Executive Hiroto Saikawa admitted to improperly receiving stock-related compensation, Jiji news agency reported, in the latest case of financial misconduct among executives at Japan's second-largest automaker. The admission raises more questions about Saikawa's ability to steer Japan's No. 2 automaker through a...

  • TOKYO, Sept 5- Nissan Motor Co Chief Executive Hiroto Saikawa admitted to misconduct involving stock-related compensation and said he planned to return the portion he had wrongfully received, Jiji news agency reported. The company's investigation came after former Nissan director Greg Kelly went public with the allegations earlier this year.

  • TOKYO, Sept 5- Nissan Motor Co Chief Executive Hiroto Saikawa admitted to misconduct involving stock-related compensation and said he planned to return the portion he had wrongfully received, Jiji news agency reported. The investigation came after former Nissan director Greg Kelly went public with the allegations earlier this year. Kelly was arrested last...

  • PARIS, Sept 3- A senior Renault-Nissan executive has quit the troubled carmaking alliance to join Peugeot maker PSA Group, blaming Renault boss Thierry Bollore for forcing his exit. Former alliance director Arnaud Deboeuf will become PSA's industrial strategy director under Chief Executive Carlos Tavares, himself a former Renault second-in-command, the...

  • PARIS, Sept 3- Arnaud Deboeuf has left his role as a senior executive in the troubled Renault-Nissan alliance and been appointed industrial strategy director at French rival PSA, a PSA spokesman said on Tuesday. Deboeuf was a close ally of former alliance boss Carlos Ghosn, serving as Alliance Senior Vice President. They follow Carlos Tavares, Renault's former...

  • *Suzuki to spend 48 bln yen on Toyota stake. TOKYO, Aug 28- Toyota Motor Corp and Suzuki Motor Corp will take small equity stakes in each other, the Japanese car makers said on Wednesday, as they seek to develop newer technologies and meet sweeping changes upending the global auto industry. Toyota will pay around 96 billion yen for a 4.94% stake in Suzuki, while Suzuki...

  • BEIJING, Aug 26- Nissan Motor Co's premium brand Infiniti said it has named Taisuke Nakamura as its new design chief, replacing Karim Habib who resigned from the post. Aside from Habib, top non-Japanese Nissan executives such as Daniele Schillaci, Jose Munoz and Trevor Mann have left the Japanese automaker in the recent past. Ghosn, who faces charges of fraud and...

  • ZURICH, July 30- Swiss prosecutors said on Tuesday they are assisting Japanese authorities in their investigation into former Renault and Nissan Motor boss Carlos Ghosn, who faces charges of fraud and misconduct. "The request for legal assistance from Japan has been delegated to the Zurich public prosecutor's office for enforcement and is currently being...

  • PARIS, July 26- Renault warned that revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal. Their former alliance boss is now awaiting trial in Japan on financial misconduct he denies. But Renault's own...

  • *To cut jobs globally by March 2023. YOKOHAMA, July 25- Nissan Motor Co unveiled its biggest restructuring plan in a decade, axing nearly a tenth of its workforce and flagging possible plant closures to rein in costs that ballooned when Carlos Ghosn was CEO. China's slowing economy, further depressed by a trade war with the United States, has hit demand, even as...