Hiroto Saikawa chosen as new Nissan chief executive officer at the February 2017 announcement. Ally or Ghosn foe?
Nissan Motor Co., Ltd.’s board of directors decided today to “accelerate” the company’s transition to a three statutory-committee format. The format is one of the recommendations of the Special Committee for Improving Governance delivered on March 27. (Was 2008 the Year When Carlos Ghosn Went Rogue? Ghosn’s Former Speechwriter on What He Did for Nissan – And What That Did to Him)
The report on first read seems to confirm Ghosn’s defense that he was set-up because he wanted the unify the Alliance between Renault and Nissan and later Mitsubishi in the face of Japanese pride in having survived because of a gaijin attempting to make the Alliance stronger. However, that may or may not play out in the Japanese courts in the coming months. (for recent related changes see Ghosn Fallout – Nissan Changes American Senior Management)
Nissan claims that building the best possible corporate governance structure is an urgent task with a large nudge from Japanese authorities (who questioned its management at the upper board levels – Nissan Mired in Japanese Corporate Governance Scandals) and is working on swift implementation of a new organization. The company is now preparing an internal system to enable transition by the end of June, in expectation of receiving shareholder approval at the scheduled Annual General Meeting of Shareholders.
To this end, the board today approved the Provisional Nomination and Compensation Advisory Council to provide advice to the board of directors. The council will select director candidates for proposal to shareholders in June and advise the board regarding director compensation.
Independent outside director Keiko Ihara chairs the council, which consists of three independent outside directors assisted by three international advisers.
Provisional Nomination and Compensation Advisory Council
- Keiko Ihara (Chair), Independent Outside Director
- Masakazu Toyoda, Independent Outside Director
- Jean-Baptiste Duzan, Independent Outside Director
The future of the so-called alliance of Nissan, Renault and Mitsubishi is in question since November when Ghosn, then chairman of all three companies, was arrested in Japan.
Japanese prosecutors have accused him of hiding his compensation and shifting personal investment losses to Nissan’s books. Ghosn denying the charges, claims Nissan executives who opposed closer ties to Renault went to Japanese authorities with false charges. Adding to the intrigue, Ghosn remains on the Board of Directors at all three companies.
See AutoInformed.com on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Ghosn Fallout – Nissan Board Changes
Hiroto Saikawa chosen as new Nissan chief executive officer at the February 2017 announcement. Ally or Ghosn foe?
Nissan Motor Co., Ltd.’s board of directors decided today to “accelerate” the company’s transition to a three statutory-committee format. The format is one of the recommendations of the Special Committee for Improving Governance delivered on March 27. (Was 2008 the Year When Carlos Ghosn Went Rogue? Ghosn’s Former Speechwriter on What He Did for Nissan – And What That Did to Him)
The report on first read seems to confirm Ghosn’s defense that he was set-up because he wanted the unify the Alliance between Renault and Nissan and later Mitsubishi in the face of Japanese pride in having survived because of a gaijin attempting to make the Alliance stronger. However, that may or may not play out in the Japanese courts in the coming months. (for recent related changes see Ghosn Fallout – Nissan Changes American Senior Management)
Nissan claims that building the best possible corporate governance structure is an urgent task with a large nudge from Japanese authorities (who questioned its management at the upper board levels – Nissan Mired in Japanese Corporate Governance Scandals) and is working on swift implementation of a new organization. The company is now preparing an internal system to enable transition by the end of June, in expectation of receiving shareholder approval at the scheduled Annual General Meeting of Shareholders.
To this end, the board today approved the Provisional Nomination and Compensation Advisory Council to provide advice to the board of directors. The council will select director candidates for proposal to shareholders in June and advise the board regarding director compensation.
Independent outside director Keiko Ihara chairs the council, which consists of three independent outside directors assisted by three international advisers.
Provisional Nomination and Compensation Advisory Council
The future of the so-called alliance of Nissan, Renault and Mitsubishi is in question since November when Ghosn, then chairman of all three companies, was arrested in Japan.
Japanese prosecutors have accused him of hiding his compensation and shifting personal investment losses to Nissan’s books. Ghosn denying the charges, claims Nissan executives who opposed closer ties to Renault went to Japanese authorities with false charges. Adding to the intrigue, Ghosn remains on the Board of Directors at all three companies.
See AutoInformed.com on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.