- Nissan CEO Hiroto Saikawa has officially resigned.
- Days before the announcement, Saikawa admitted in media interviews that he has been overpaid.
- Ongoing investigations are now looking at the details of how Saikawa and other top executives intentionally manipulated the system to increase their earnings.
If you’re working for a big company, being overpaid is probably a good problem to have. Besides, who wouldn’t want to enjoy more money to spend, right? Well listen up, everyone!
A Nissan CEO recently made headlines after announcing his resignation several days after confessing that he, along with other top Nissan executives, have been earning more than they deserve.
According to the company, Chief Executive Officer Hiroto Saikawa has formally stepped down from his post following a meeting with the board of directors. Yasuhiro Yamauchi has since been appointed as acting CEO as Nissan looks for a new person to fill the position.
A few days before his resignation, Saikawa admitted in an interview that he and other top executives have been overpaid because of a “stock-related plan,” reported CNN. However, he clarified that he did not get involved in any illegal activities and that he intends to return the money.
Yasushi Kimura, board chairman of Nissan, agreed that the program was indeed not illegal but was “intentionally manipulated” to increase the executives’ earnings.
He pointed out:
“As a governance issue, we take it seriously.”
Meanwhile, the board likewise shared that investigations are currently ongoing regarding alleged misconduct by former chairman Carlos Ghosn along with former director Greg Kelly. And while the company’s directors have admitted to losing billions in damages, they have refused to reveal specific details pending the investigations. Despite his denial of the allegations, Ghosn has since been placed under house arrest.
Before the controversy made headlines, Nissan has faced multiple challenges under the leadership of Saikawa, including huge profit loss, and he said that the automobile manufacturer has hit “rock bottom.” They’ve also previously announced that they plan to reduce around 12,500 workers across the world.
Bees Kill Penguins by Stinging Them in the Eyes
2000 Kilogram Sunfish Caught Off North African Coast
Man Embezzles $57K in COVID-19 Relief to Buy Pokemon Cards
Florida Man Catches and “Recycles” Alligator in Driveway
Man Shocks Reporter on How He’d Spend the Lottery Winnings
Man Joins Search Operation Not Realizing He’s the One Missing
World’s Oldest Rhino Dies in Italian Zoo at 54 Years Old
Meet Quilty – Cat Escape Artist Helping Other Cats Jailbreak
Fans Use American Flag to Save Falling Cat During Football Game in Miami
TikToker Shares How She Tricked Invaders Who Tried Opening The Hotel Door While She Was Alone
Man Iced Neighbor Who Repeatedly Asked Him “When Are You Getting Married?”
Do You Live in One of These 15 Countries With The Most Beautiful Women on Earth?
The Secret Meaning of Anklets And Why Some Wives Wear Them
Waking Up Between 3 to 5 AM Could Mean You’re Experiencing Spiritual Awakening
Divorced Man Wrote 20 Epic Marriage Advice He Wished He Could Have Had
Haunting Photos of Two Tourists Snapped Just Before They Mysteriously Disappeared
“Chastity Cages” is the Latest Thing for Men
Pork Fat Is Officially One of the World’s Most Nutritious Foods
Some Stranger Padlocked This Guy’s Earlobe And Ran Away With The Key
Three-Month-Old Baby Left Blind in One Eye After Family Friend Took His Picture