Nissan CEO resigns after admitting that he & # 39; dubious & # 39; received payments, but blames his deposed predecessor Carlos Ghosn for the scandal
- Board member told reporters in Yokohama, Japan that CEO Hiroto Saikawa will resign on September 16 and that a successor will be named next month
- CEO admitted that his salary was inflated by illegally adjusting the cash in date
- Accused pastor, Carlos Ghosn, for creating doubtful payment systems
The chief executive of Nissan submitted his resignation after admitting having received doubtful income and promised to pass on the leadership of the Japanese car manufacturer to a new generation.
Board member Yasushi Kimura told reporters at the company's headquarters in Yokohama that the board approved the CEO, the resignation of Hiroto Saikawa, as of September 16 and that a successor will be appointed next month.
A search for the new director is underway, he added.
Hiroto Saikawa, CEO of Nissan Motors, attends a press conference in December last year at headquarters in Yokohama, Kanagawa Prefecture. The CEO of the Japanese automaker plans to resign when the company's board meets to discuss an audit that was started after his former chief, Carlos Ghosn, was arrested for financial misconduct
Former Nissan chief Carlos Ghosn is being prepared to speak at the start of a video message recorded before being arrested earlier this year in Tokyo. He was on bail for an additional claim that he had transferred Nissan money to a dealer in Oman, but had transferred millions for personal expenses – including the purchase of a luxury yacht
Calls for the resignation of Mr Saikawa following the arrest last year of his predecessor, Carlos Ghosn, on various allegations of financial misconduct, after Mr Saikawa acknowledged last week that he had received questionable payments.
The earnings were linked to Nissan's stock price, and he said his pay was inflated by illegally adjusting the cash-in date.
The car manufacturer's board met to investigate the allegations against Mr. Saikawa, as well as other issues related to Ghosn's allegations and business ethics at the company.
Kimura said the income Saikawa had received was confirmed as & # 39; not illegal & # 39 ;.
Ghosn, who is on bail and awaiting trial, says he is innocent.
Mr Saikawa has not been charged.
& # 39; I tried to do what needs to be done to transfer the baton as quickly as possible & # 39 ;, he told reporters earlier in the day, referring to his willingness to leave his job.
He did not attend the press conference.
Mr. Saikawa said that he knew nothing about the inaccuracies, promised to return the money and blamed the system that he had made at Nissan for the dubious payments according to Ghosn.
Japanese media reports that Mr. Saikawa had received tens of millions of yen (hundreds of thousands of pounds) as additional compensation.
Ghosn is charged with forging documents about deferred compensation, which means he has not received any money.
Nissan's profits and sales have shrunk in the past year.
Investors are also concerned about Nissan's relationship with alliance partner Renault SA from France, which owns 43 percent of Nissan.
Ghosn was sent by Renault two decades ago to lead Nissan.
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