The Strategist

Nissan CEO returns part of bonuses he received

09/05/2019 - 12:08

Nissan CEO Hiroto Saikawa apologized “for the inconvenience” and admitted that the company paid him more than expected.

Bertel Schmitt (BsBsBs)
Bertel Schmitt (BsBsBs)
Hiroto Saikawa agreed to return the full amount of the overpayment - 47 million yen (€ 400 thousand), reports Reuters. At the same time, Mr. Saikawa said that he was not related to the purpose of payments and did not know that the company paid him excess money.

Mr. Saikawa made a public apology after a meeting of the audit committee was held at Nissan on Wednesday, at which the results of the internal audit were announced. It showed that the CEO and other senior representatives of the company received inflated payments for phantom options (bonus payments on the basis of a conditional stake in the company assigned to an employee or a conditional share of its value).

The company intends to discuss possible sanctions against perpetrators of overpriced payments and their receipt at the next board meeting on September 9th.


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