Report: Nissan panel to recommend outside director to chair board


  • Auto
  • Monday, 18 Feb 2019

FILE PHOTO: Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, poses after the Renaults 2015 annual results presentation at their headquarters in Boulogne-Billancourt, near Paris, France, February 12, 2016. REUTERS/Benoit Tessier/File Photo

TOKYO: A Nissan Motor governance committee will recommend the appointment of an external director as board chairman, a role distinct from company chairman, in a move to decentralise power at the top level, the Nikkei business daily reported.

Under Nissan’s current corporate charter, the position of board chair is automatically appointed to head the company board, the Nikkei said citing a source.

Former chairman Carlos Ghosn (pic) had filled both roles prior to his arrest in November for under-reporting his salary for eight years.

The issue of Nissan’s chairmanship is now particularly important after the Japanese firm identified the concentration of power in one executive as one of the reasons Ghosn was able to carry out his alleged fiscal misconduct.

Speculation has swirled about whether the newly appointed chairman of France’s Renault, Jean-Dominique Senard, would assume the chairmanship of the Japanese automaker.

The Nikkei report comes after the governance committee said in a statement that the separation between operation and oversight was among topics discussed on Friday at the committee’s third meeting since it was formed in December after Ghosn’s arrest.

The panel, comprising three Nissan external board directors and four third-party members, is scheduled to make recommendations to Nissan’s board in March on how to tighten lax governance and approval processes for matters including director compensation and chairman selection.

A spokeswoman for the committee said it could not comment on potential recommendations before they are submitted to the Nissan board. Nissan did not immediately reply to emailed request for comment.— Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , Nissan

   

Next In Business News

KLCI futures to trade higher next week
CPO futures to move higher next week
Biden rescinds Trump-era health insurance requirement for new immigrants
Venezuelan court seizes newspaper office in defamation case
FTC officials say 7-Eleven purchase of Speedway chain likely illegal despite closing
GLOBAL-LNG-Asian spot prices hit $10 on global supply disruptions
With superheroes and sci-fi, Disney+ outlook bright
Picasso oil painting sells for over US$100mil at New York auction
Oil prices jump as major US fuel pipeline restarts but COVID concerns cap gains
GLOBAL MARKETS-US and world stocks surge in recovery; dollar, bond yields dip

Stories You'll Enjoy


Vouchers