Money: Crisis-hit Nissan CEO set to resign as board meets - PressFrom - Canada
  •   
  •   
  •   

MoneyCrisis-hit Nissan CEO set to resign as board meets

08:30  09 september  2019
08:30  09 september  2019 Source:   msn.com

Two Saskatchewan legislature members resign to run in federal election

Two Saskatchewan legislature members resign to run in federal election REGINA — Two members of the legislature in Saskatchewan have resigned so that they can run for the Conservative party in the federal election. Warren Steinley and Corey Tochor have represented the constituencies of Regina Walsh Acres and Saskatoon Eastview, respectively, since 2011. They served in a number of roles in the Saskatchewan Party government, including on various committees, and Tochor was Speaker from 2016 to 2018. In March, Tochor was chosen as the Conservative candidate in the riding of Saskatoon University. Steinley is seeking election in the Regina-Lewvan riding. The federal campaign for the Oct. 21 vote has officially begun.

Nissan ’s board of directors is set to meet on Monday as the company’s top executive , Hiroto Saikawa, faces a widening crisis of confidence in his leadership. The Japanese economic daily Nikkei Shimbun reported late Sunday that Mr. Saikawa had since expressed his intention to resign

Nissan Motor Co. Chief Executive Officer Hiroto Saikawa said he won’t resign for being at the center of turmoil over excess compensation, but is ready to take responsibility for scandals involving former Chairman Carlos Ghosn and will exit as soon as a successor is found.

Crisis-hit Nissan CEO set to resign as board meets© Behrouz MEHRI Reports in Japan say Nissan CEO Hiroto Saikawa will step down over issues with his pay

The CEO of crisis-hit Japanese automaker Nissan plans to resign, reports said Monday, as the firm's board meets to discuss an audit launched after former chief Carlos Ghosn's arrest over financial misconduct.

Hiroto Saikawa's reported decision to step down comes days after he admitted receiving overpayments, and is the latest blow to the firm after Ghosn's arrest and ouster.

Nissan said it had no immediate comment on the reports, which first emerged overnight.

The timing of Saikawa's resignation, as well as who will succeed him, have reportedly not yet been decided but the embattled CEO is said to have informed several Nissan executives of his decision.

Nissan Ousts CEO Over Pay Scandal as Turmoil Deepens

Nissan Ousts CEO Over Pay Scandal as Turmoil Deepens Less than a year since the dramatic downfall of Carlos Ghosn, Nissan Motor Co. is losing another leader. Chief Executive Officer Hiroto Saikawa was asked by the board on Monday to step down by Sept. 16. He’ll be replaced by Chief Operating Officer Yasuhiro Yamauchi until a permanent replacement is named by the end of October. Nissan shares rose as much as 3.1% on Tuesday following the announcement. With Saikawa felled by a scandal over excess pay, the Japanese automaker finds itself in familiar territory, facing questions over its corporate governance and an uncertain future.

TOKYO -- Nissan Motor Co. CEO Hiroto Saikawa has told some executives he plans to resign , the Nikkei newspaper reported on Sunday, in what Nissan , which has struggled to right itself after former chairman Carlos Ghosn was ousted late last year, was battered by another crisis just days ago when

TOKYO -- Nissan CEO Hiroto Saikawa has told some executives he plans to resign , the Nikkei newspaper reported on Sunday, in what would Nissan , which has struggled to right itself after former chairman Carlos Ghosn was ousted late last year, was battered by another crisis just days ago when

Nissan's board, including executives from the firm's alliance partner Renault, will meet at the company's Yokohama headquarters outside Tokyo from Monday afternoon.

Their discussions, which will include the results of an internal Nissan audit, are expected to "run late into the night", sources told AFP.

- Alleged overpayments -

The audit was launched in the wake of the Ghosn scandal but appears to have implicated Saikawa and other executives for receiving excess pay as part of a scheme under which directors can earn a bonus if their company's share price rises above a certain level in a set period.

Saikawa is suspected of improperly adding 47 million yen ($440,000) to his compensation by altering the terms of a bonus, according to reports.

Brian Gallant to resign legislature seat by Oct. 7

Brian Gallant to resign legislature seat by Oct. 7 Gallant resigned as the leader of the New Brunswick Liberal party after his government failed to form a minority government in the weeks following the Sept. 24, 2018 provincial election. The man who replaced Gallant leader, Kevin Vickers, thanked the former premier for his service to the province. "I join with his former colleagues and friends in offering my best wishes as he undertakes the next exciting chapter of his life," said Vickers in a statement. The new Liberal leader did not rule out a run for Gallant's soon-to-be-vacant seat. "The decision on the timing of a by-election is of course the Premier’s decision.

Nissan ’s board will meet on Monday to appoint a replacement for Mr. Ghosn, who had already been removed as chairman, according to a Renault has stuck by Mr. Ghosn amid tensions between it and Nissan . The Renault board said on Thursday that an internal inqurity into Mr. Ghosn’s compensation

Board meeting When Nissan ’s board meets Monday to discuss the excess pay issue, it will also review a plan The board would then set a timeline for a permanent successor, they said. Saikawa told his colleagues of his intention to resign , although the exact date is yet to be decided, the Nikkei

Nissan has not confirmed the details of the payments, but Saikawa apologised last week, while denying any wrongdoing.

"I left the issue to someone else so I had thought it was dealt with in an appropriate manner," he told reporters.

The carmaker is currently undergoing an overhaul intended to strengthen governance after the Ghosn scandal.

In June, Nissan shareholders voted in favour of various measures including the establishment of three new oversight committees responsible for the appointment of senior officials, pay issues and auditing.

They also approved the election of 11 directors as the firm restructures, among them two Renault executives as well as Saikawa.

The reforms are designed to put Nissan on a more stable footing after the arrest of Ghosn, who has been sacked from his leadership roles at the Japanese firm and others.

He is awaiting trial on charges of under-reporting millions of dollars in salary and of using company funds for personal expenses.

Fire on field ahead of Titans-Colts kickoff

Fire on field ahead of Titans-Colts kickoff A fire roared on the sidelines ahead of kickoff at the Tennessee Titans-Indianapolis Colts game at Nissan Stadium. A pyrotechnic device malfunctioned and caught fire. A stadium employee had to use a fire extinguisher to calm the flames. A fire just erupted here on the field. The staff at Nissan Stadium handled it swiftly. pic.twitter.com/Rma8D8Q1fJ — TURRON DAVENPORT (@TDavenport_NFL) September 15, 2019 Fire at Nissan Stadium, wow

Nissan 's board members are scheduled to meet on Monday to discuss the issue. The company, and its relationship with top shareholder Renault SA (PA:RENA) The Financial Times has reported that Nissan 's board will set a formal succession timetable at Monday's meeting , citing unnamed sources.

TOKYO (Reuters) – Nissan Motor Co <7201.T> Chief Executive Hiroto Saikawa has told some executives he plans to resign , the Nikkei FILE PHOTO: Nissan CEO Hiroto Saikawa attends a news conference to release first quarter earnings at the company headquarters in Yokohama, Japan

Ghosn has denied any wrongdoing and accuses Nissan executives opposed to his plans to further integrate the firm with France's Renault of plotting against him.

- Calls for Saikawa's resignation -

Saikawa, a one-time Ghosn protege, turned sharply against his former mentor after his arrest, referring to the "dark side" of the tycoon's tenure and accusing him of accruing unchecked power that allowed his alleged wrongdoing to go undetected.

But the CEO has come under pressure himself in the scandal's wake, facing calls to resign from shareholders who view him as too heavily associated with the Ghosn era.

And while he resisted calls to step down immediately, he has said that he plans to hand over the reins after Nissan is back on track.

The Ghosn scandal has proved disastrous for Nissan, which in July announced that net profit plunged nearly 95 percent in the April-June quarter, and confirmed it would cut 12,500 jobs worldwide.

The Japanese firm has also struggled to steady its relationship with Renault as part of a tripartite alliance with Mitsubishi Motors that Ghosn founded and once led.

Renault holds a 43-percent stake in the Japanese automaker, which in turn controls 15 percent of the French firm but has no voting rights -- an arrangement that has caused tensions.

"There are working theories" on a possible reform of the cross-holding structure between the two firms, a source close to the issue told AFP, adding that "nothing is official".

And Nissan faces other challenges, with Bloomberg News reporting that Christina Murray, the executive who led the company's audit, is also resigning, without giving details on why.

Review board hears mass killer doing well, should have unsupervised outings.
Review board hears mass killer doing well, should have unsupervised outings

—   Share news in the SOC. Networks

Topical videos:

usr: 4
This is interesting!