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Thursday June 30, 2011

Nissan’s Ghosn is highest paid exec at a Japanese firm

YOKOHAMA: Nissan Motor Co chief executive Carlos Ghosn made 982 million yen (US$12.1mil) last year, likely making him the highest-paid executive at a Japanese company again, topping the 863 million yen earned by his Sony Corp counterpart, Howard Stringer.

Ghosn's total compensation, including stock options, rose 10% from last year, while Stringer's increased 6%.

The Brazilian-born Frenchman and the Briton were the top two highest-paid CEOs among listed Japanese companies last year.

Ghosn's remuneration far exceeds that of his counterparts at domestic rivals Toyota Motor Corp and Honda Motor Co.

Toyota President Akio Toyoda received 136 million yen for the year ending in March, while Honda CEO Takanobu Ito made 130 million yen.

Ghosn has defended Nissan's pay scale as following a benchmark for multinational companies to attract talent in the global auto industry.

“If you compare our pay with Toyota's or Honda's, then obviously there are differences,” he told shareholders gathered near Nissan's headquarters in Yokohama yesterday. “We are following global metrics.” Reuters

For Another perspective from The Daily Yomiuri, a partner of Asia News Network, click here

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