Press "Enter" to skip to content

Nissan’s Nominating Panel to Discuss Saikawa Successors During Monday Meeting

Nissan Motor’s nominating panel will talk about potential successors for Chief Executive Hiroto Saikawa at a meeting on Monday after he privately indicated his readiness to resign, a source with information of the matter said.

The resignation of Saikawa, a protege of former chairperson Carlos Ghosn, would mark the latest upheaval over governance at the troubled Japanese auto manufacturer. The firm has struggled to right itself following Ghosn’s dramatic arrest and subsequent ouster in 2018.

It was swept up again in crisis when Saikawa last week admitted to being improperly overpaid and in breach of internal procedures. That selection followed an internal probe.

Nissan’s board is scheduled to meet Monday. The company, and its connection with top shareholder Renault has been damaged after Ghosn’s arrest for alleged financial wrongdoing in November and subsequent withdrawal.

The timing of Saikawa’s resignation was not precise. He has told some executives of his intention to quit, the source said.

Pressure has mounted on Saikawa given the firm’s poor efficiency and strained connections with Renault. Profit has plunged to an 11-year low and indicated hefty job cuts.

An alliance source said a nominations panel set up in June to find a successor to Saikawa had drawn up a shortlist containing over ten possible applicants.

Names included Jun Seki, who is overseeing the corporate’s performance recovery, Chief Competitive Officer Yasuhiro Yamauchi, and Makoto Uchida, chairperson of Nissan’s administration panel in China, one of its largest marketplaces, said the alliance source, who spoke on condition of anonymity.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *