Nissan Re - Appoints Hiroto Saikawa As Ceo In Revamped Board

Nissan Re-Appoints Hiroto Saikawa As CEO In Revamped Board

Nissan has re-appointed Hiroto Saikawa as CEO in its revamped board of directors that gives Renault two seats.

Nissan’s new expanded board now includes Renault Chairman Jean-Dominique Senard and CEO Tierry Bollore but the nominations must be approved first at the company’s annual shareholders meeting.

The Japanese company’s proposal to keep Saikawa at his post puts an end to speculations about him resigning following the Ghosn scandal and the tensions between Nissan and Renault. Saikawa was pressured to step down, accused of failing to point Ghosn’s alleged wrongdoing earlier according to AutoNews.

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When asked if he’ll resign at this week’s press conference, Saikawa dismissed the question and said that his first priority is to revive the company and then step down at the "appropriate time but cannot say when."

Nissan’s new board is now including 11 directors, up from last year’s nine, including seven independent outside directors. Last year’s board had only three independent directors but Nissan wants its new board majority to be independent, after the recommendation of an outside panel regarded with proposing an improved corporate governance.

The new proposed independent directors include Bernard Delmas, chairman of Nihon Michelin Tire Co.; Jenifer Rogers, general counsel for Asia at Asurion Japan Holdings; Andrew House, chairman of Sony Interactive Entertainment, and Yasushi Kimura, an advisor at JXTG Holdings. Race car driver Keiko Ihara and former Japanese government bureaucrat Masazaku Toyoda will keep their positions on the board.