Sep 5, 2019

Nissan boss says he was overpaid but denies wrongdoing

Nissan boss Hiroto Saikawa has accepted he was overpaid as part of a company compensation scheme, but denied any wrongdoing. Mr Saikawa has been accused of improperly boosting his compensation in 2013 by 47 million yen as part of a stock appreciation rights scheme, according to media reports. Such schemes tend to link bonuses with the performance of company stocks over a certain period. Mr Saikawa reportedly delayed his bonus payout by a week to benefit from a stock rise, the reports said. Mr Saikawa, who had promised to improve the running of the company in the wake of Mr Ghosn's arrest, described the bonus system as "a scheme of the Ghosn era".

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