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Home News Auto News Nissan CEO Hiroto Saikawa Is Taking A 50 Percent Pay Cut Nissan CEO Hiroto Saikawa Is Taking A 50 Percent Pay Cut Auto News Hans | June 04, 2019 10:42 am Nissan announced today that it is cutting the compensation for CEO Hiroto Saikawa by 50 percent.Saikawa was paid 500 million Yen (RM19.3 million) in the previous fiscal year. This is the second time Saikawa has cut his salary. In November 2017, he volunterered to return the remaining portion of his annual salary following a costly quality scandal in Japan.Nissan is currently facing many financial challenges, following criminal charges against its former Chairman and CEO Carlos Ghosn and the associated corporate drama being played out in the media space.The whistleblowing ouster of Ghosn was also related to Nissan’s own disagreements with Ghosn and its partner Renault, a relationship that Nissan says is not fair as Nissan contributes more to the Alliance’s revenue but enjoys less control.Sales in Nissan’s two biggest markets - USA and China - are slowing, and the company has warned investors that it expects this year’s operating profit to drop by 45 percent over the previous financial year.Saikawa’s salary cut can also be seen as a symbolic gesture to return to Japanese values, which see Ghosn’s 16.9 million US Dollar annual compensation as excessive. Prior to his removal, Ghosn was the highest paid car company executive in Japan, and is among the top-5 highest paid in the world. Ghosn’s salary is 10 times more than CEOs of far more profitable Japanese automakers like Toyota and Honda. Separately, Saikawa announced yesterday that he welcomes the proposed merger between Fiat Chrysler Automobiles and Renault. In a statement to the press, Saikawa said:"I am aware that FCA’s merger proposal will be discussed by Renault’s board this week.“I believe that the potential addition of FCA as a new member of the Alliance could expand the playing field for collaboration and create new opportunities for further synergies.“That said, the proposal currently being discussed is a full merger which—if realized—would significantly alter the structure of our partner Renault. This would require a fundamental review of the existing relationship between Nissan and Renault.“From the standpoint of protecting Nissan’s interests, Nissan will analyze and consider its existing contractual relationships and how we should operate business in the future."Reuters have reported that Nissan stands to win big if the merged FCA is to leverage on electric vehicle (EV) technology developed by the Renault Nissan Mitsubishi Motors Alliance, as the Alliance’s EV tech is contributed mostly by Nissan. Existing agreements within the Alliance requires other brands wishing to use Nissan’s EV tech to pay royalties to it. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags Nissan Print Related News The Birth Of Nissan's Racing Legends Insights Hans | June 30, 2015 The year was 1964. Japan was playing host to the Tokyo Olympics. The country's proudest achievement was the 210km/h Tokaido Shinkansen bullet train ... ETCM Nissan CNY Campaign - RM129k worth of electrical appliances to be won Auto News Kon | January 08, 2016 In conjunction with the upcoming Chinese New Year festivities ushering in the new Lunar Year of the Fire Monkey, Edaran Tan Chong Motor Sdn Bhd ... Tan Kim Hor – Co-Founder of Tan Chong Group Passed Away Auto News Hans | March 23, 2016 Tan Sri Tan Kim Hor, who co-founded the Tan Chong group together with his late brother Tan Sri Tan Yuet Foh, has passed away yesterday. He was ... Tan Chong’s MUV Expands Beyond Nissan, Targets B2B Sector Auto News Hans | April 13, 2016 MUV Marketplace Sdn. Bhd., the sister company of Nissan distributor Edaran Tan Chong Motor, has today launched a mobile application that allows used ... Comments
Nissan CEO Hiroto Saikawa Is Taking A 50 Percent Pay Cut Auto News Hans | June 04, 2019 10:42 am Nissan announced today that it is cutting the compensation for CEO Hiroto Saikawa by 50 percent.Saikawa was paid 500 million Yen (RM19.3 million) in the previous fiscal year. This is the second time Saikawa has cut his salary. In November 2017, he volunterered to return the remaining portion of his annual salary following a costly quality scandal in Japan.Nissan is currently facing many financial challenges, following criminal charges against its former Chairman and CEO Carlos Ghosn and the associated corporate drama being played out in the media space.The whistleblowing ouster of Ghosn was also related to Nissan’s own disagreements with Ghosn and its partner Renault, a relationship that Nissan says is not fair as Nissan contributes more to the Alliance’s revenue but enjoys less control.Sales in Nissan’s two biggest markets - USA and China - are slowing, and the company has warned investors that it expects this year’s operating profit to drop by 45 percent over the previous financial year.Saikawa’s salary cut can also be seen as a symbolic gesture to return to Japanese values, which see Ghosn’s 16.9 million US Dollar annual compensation as excessive. Prior to his removal, Ghosn was the highest paid car company executive in Japan, and is among the top-5 highest paid in the world. Ghosn’s salary is 10 times more than CEOs of far more profitable Japanese automakers like Toyota and Honda. Separately, Saikawa announced yesterday that he welcomes the proposed merger between Fiat Chrysler Automobiles and Renault. In a statement to the press, Saikawa said:"I am aware that FCA’s merger proposal will be discussed by Renault’s board this week.“I believe that the potential addition of FCA as a new member of the Alliance could expand the playing field for collaboration and create new opportunities for further synergies.“That said, the proposal currently being discussed is a full merger which—if realized—would significantly alter the structure of our partner Renault. This would require a fundamental review of the existing relationship between Nissan and Renault.“From the standpoint of protecting Nissan’s interests, Nissan will analyze and consider its existing contractual relationships and how we should operate business in the future."Reuters have reported that Nissan stands to win big if the merged FCA is to leverage on electric vehicle (EV) technology developed by the Renault Nissan Mitsubishi Motors Alliance, as the Alliance’s EV tech is contributed mostly by Nissan. Existing agreements within the Alliance requires other brands wishing to use Nissan’s EV tech to pay royalties to it. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags Nissan
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
The Birth Of Nissan's Racing Legends Insights Hans | June 30, 2015 The year was 1964. Japan was playing host to the Tokyo Olympics. The country's proudest achievement was the 210km/h Tokaido Shinkansen bullet train ...
ETCM Nissan CNY Campaign - RM129k worth of electrical appliances to be won Auto News Kon | January 08, 2016 In conjunction with the upcoming Chinese New Year festivities ushering in the new Lunar Year of the Fire Monkey, Edaran Tan Chong Motor Sdn Bhd ...
Tan Kim Hor – Co-Founder of Tan Chong Group Passed Away Auto News Hans | March 23, 2016 Tan Sri Tan Kim Hor, who co-founded the Tan Chong group together with his late brother Tan Sri Tan Yuet Foh, has passed away yesterday. He was ...
Tan Chong’s MUV Expands Beyond Nissan, Targets B2B Sector Auto News Hans | April 13, 2016 MUV Marketplace Sdn. Bhd., the sister company of Nissan distributor Edaran Tan Chong Motor, has today launched a mobile application that allows used ...