Nissan Media: Nissan Auto President expressed his intention to resign or received more compensation for improper reasons

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 Nissan Media: Nissan Auto President expressed his intention to resign or received more compensation for improper reasons


BEIJING, Sept. 9, according to Kyodo News Agency of Japan, Nissan Motor Co. President Hiroshima Nishikawa has expressed his intention to resign to people around him. Relevant people cite corporate governance issues as reasons for the early abatement of internal chaos, but there is also a responsibility for the improper addition and the issue of receiving stock price linkage remuneration. The date of resignation and the successor have not yet been determined. It is expected that the nominating committee and others will speed up discussions to select successors.

Nishikawa denied to the media his early resignation in Tokyo on the morning of 9 September, and said on this basis that he would do what should be done and hand over as soon as possible. Others said that Xichuan had expressed his intention to resign to a number of Nissan cadres. There is also a tendency to retain this, and there are still variables in this matter.

The board meeting scheduled for the 9th will report on the results of the companys internal investigation on a series of issues. The meeting is expected to discuss whether to punish Xichuan and others, and the decline in cohesion will be inevitable. However, the selection and appointment of new directors requires the approval of the shareholdersmeeting, so there is a great possibility that Xichuan will continue to serve as president at present.

It is reported that Nissan has been striving to reform corporate governance since the Carlos Ghosn case, which has been a company leader for many years and has been prosecuted for violating the Company Law (especially dereliction of duty), but once again there is a possibility that Nissan will step down. In the case of deteriorating performance in the near future, the replacement of a leader will inevitably lead to business chaos, and may also affect the recovery of performance. What has become a problem is the system known as stock appreciation rights (SAR). If the share price exceeds the level determined in advance, the difference can be drawn according to the number of shares held and the share price. According to the companys internal investigation, Nishikawa was suspected of staggering the exercise of rights in May 2013 and received tens of millions of yen more because of the rise in its share price. Nishikawa said he commissioned his subordinates to use the system and denied their involvement. On this basis, he said he intended to return the multi-claim part, but there was a voice of accountability within the company. Source: Responsible Editor of China News Network: Xing Haibo_NBJS8850

It is reported that Nissan has been striving to reform corporate governance since the Carlos Ghosn case, which has been a company leader for many years and has been prosecuted for violating the Company Law (especially dereliction of duty), but once again there is a possibility that Nissan will step down. In the case of deteriorating performance in the near future, the replacement of a leader will inevitably lead to business chaos, and may also affect the recovery of performance.

What has become a problem is the system known as stock appreciation rights (SAR). If the share price exceeds the level determined in advance, the difference can be drawn according to the number of shares held and the share price. According to the companys internal investigation, Nishikawa was suspected of staggering the exercise of rights in May 2013 and received tens of millions of yen more because of the rise in its share price.

Nishikawa said he commissioned his subordinates to use the system and denied their involvement. On this basis, he said he intended to return the multi-claim part, but there was a voice of accountability within the company.