Nissan Motor is moving forward with plans to find a successor to President and CEO Hiroto Saikawa. Days after admitting to being overpaid by an #equity-linked remuneration scheme, #NissanMotor Co. President and CEO #HirotoSaikawa said on September 9 that he intends to step down, but appeared to rule out a swift departure.
The company’s newly-established “nominating committee” will hold a meeting on Monday as part of a reform plan.
Saikawa said the committee has begun considering the next generation of Nissan’s leadership, and that he has instructed them to make a prompt decision.
He indicated that he is willing to step down when it’s time to pass the baton.
Nissan is also going to have a board meeting about Saikawa and other executives receiving improper compensation.
Saikawa denies any wrongdoing and says it was the result of a problem with how management pays compensation. Sources say the in-house probe has concluded that the payouts do not amount to a legal violation.