Sep 9, 2019

Nissan boss to step down amid pay scandal

Nissan chief executive Hiroto Saikawa will step down next week as the carmaker grapples with an executive pay scandal. Board chairman Yasushi Kimura told reporters that Mr Saikawa would quit on 16 September. "After the board discussion, the board asked Mr Saikawa to step down from the chief executive position. Mr Saikawa accepted this," Mr Kimura said. Following reports that Mr Saikawa was preparing to step down, the Nissan boss told reporters in Japan: "I'm keen to pass the torch to the next generation as soon as possible." Mr Saikawa's troubles are the latest scandal to hit the Japanese carmaker, following the arrest of former chairman Carlos Ghosn in November.

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