Compensation to Nissan Directors Down 15 Pct in FY 2017

June 1, 2018

Tokyo- The total compensation paid to Nissan Motor Co.'s board directors fell 15 pct from the previous year in fiscal 2017, according to a notice to shareholders released by the company on Friday.

It was the first drop of the remuneration in three years.

The decrease is believed to have been due to Nissan Chairman Carlos Ghosn, who is known for his high pay, stepping down as the automaker's president and chief executive officer in April last year to concentrate on his job as chairman, people familiar with the matter said. Ghosn was paid some 1.1 billion yen in fiscal 2016, when he doubled as president and chairman of the company.

The fall also came as President and CEO Hiroto Saikawa returned some of his pay to take responsibility for the company's fraudulent inspections scandal, the sources said.

According to the notice of convocation for Nissan general shareholders' meeting, nine board members were paid a total of 1,566 million yen, including 2 million yen paid to an outside director, for the year that ended in March.

Ghosn has also served as Mitsubishi Motors Corp.'s <7211> chairman since December 2016.

Mitsubishi paid a total of 628 million yen including stock options to 11 board members in fiscal 2017, of which 90 million yen was paid to six outside directors.

The figure was up 40 pct from the previous year's 435 million yen paid to 21 people. Jiji Press