+ Publish Ad FREE !
Ads stats: last 24h - 48, actual - 1234, total - 99806

Nissan shareholders approve stronger oversight of how the money's spent

26 June 2019 - Autoblog

Nissan shareholders approve stronger oversight of how the money's spent

More bowing and apologies over Ghosn scandal, but what did Saikawa know?

Scandal-battered Nissan won its shareholders' approval Tuesday for a new system of committees to oversee governance and for keeping Chief Executive Hiroto Saikawa on its board.

The Japanese automaker's profits and dividends have tumbled amid a high-profile scandal involving its former chairman Carlos Ghosn. Some shareholders expressed worries about the future of the automaker.

Saikawa and the other board members, including French alliance partner Renault Chairman Jean-Dominique Senard, bowed deeply at the meeting at a convention center in the port city of Yokohama, where Nissan Motor Corp. is based.

"I'd like to offer my deepest apologies, representing the company, for how the misconduct has caused serious concern for our shareholders," Saikawa said.

Ghosn, who led Nissan for two decades, was arrested in November and is awaiting trial in Japan on charges of financial misconduct, including falsifying documents related to retirement compensation. He says he is innocent.

The proposals to have committees overseeing compensation, board nominations and auditing required a majority of shareholders for a quorum and two-thirds of those voting for passage.

Approval was shown by clapping among the more than 2,800 people present at the meeting. Most of the votes were submitted in advance.

French automaker Renault, which owns 43% of Nissan, had earlier signaled it may abstain, saying it wanted more representation on the committees.

To satisfy that request, the committees have Senard, who replaced Ghosn on the Nissan board, and Renault Chief Executive Thierry Bollore.

Saikawa told shareholders he had "two kinds of responsibility," for what had happened in the past as well as building toward a future and a recovery, including nurturing his successor.

"I would like to work toward putting Nissan on a stable track," he said, asking for shareholders' approval for his remaining as Nissan's leader. "I want to speed up the preparations for a succession."

Although Nissan has been trying to put the scandal behind it, many wonder why the alleged wrongdoing, if true, had gone unchecked, and especially how much Saikawa knew. One shareholder asked whether Nissan officials besides Ghosn shared in the alleged misconduct.

For the fiscal year that ended in March, Nissan's profit plunged to about half of what it was the previous year, partly because of the scandal, as well as problems in the lucrative North American market. The maker of the Leaf electric car and Infiniti luxury models is projecting a further deterioration in its earnings, but promising a recovery for the year after that.

It logged 9.2 billion yen ($83 million) in costs for the fiscal year that ended in March from alleged underreporting of Ghosn's compensation.

The proposal, which won shareholders' approval, called for an 11-member board, including seven outside directors such as Andrew House, formerly with Japanese electronics and entertainment company Sony Corp.

For the appointment of directors, a third of the shareholders made for a quorum, and passage needed a simple majority of those voting.

Some analysts suggest a deepening rift between Renault and Nissan after a planned merger between Renault and Fiat Chrysler fell through earlier this month. Nissan expressed reservations about immediately joining the merger.

Some shareholders expressed worries about the alliance, and one who stood up to ask a question said the main person who had made decisions, referring to Ghosn, was now gone.

Nissan held an extraordinary shareholders' meeting in April to oust Ghosn. Last week, Mitsubishi Motors Corp., a smaller Japanese automaker in which Nissan owns a 34% stake, won shareholders' approval to oust Ghosn.

News By Tags

2011 models2012 models3D printing458 italia6-series coupeA1A2abc motorsabu dhabiaccidentaccidentsaccordACIMacuraadidasadvertisingafricaAIair pollutionairbagairbagsairbusairportAlbionalcotestalfaalfa romeoalgeriaalibabaAllemangeAllied MotorsAlmaalpineAmauryamazonamendesamphibiousandroidAnil BachooAnse-la-Raieappappleappointmentsappsapriliaarabiaargentinaarielarnold schwarzeneggerarsenalArtashok leylandasiaastonaston martinAston Martin ZagatoauctionaudiAudi Q8audit reportaustraliaAustralian Grand Prixaustriaautoauto industryauto shanghaiauto showauto-écoleautonomous carautonomus carAutopilotautopont de Decaenautopont Decaenautoroute M1aventadorawardsAxessBABagatellebahrain grand prixBAIBaie-du-TombeaubajajBalaclavaBambousBangkok International Motor ShowBangkok Motor ShowBangladeshBarklybatmobilebatterybattlebeachbeachesBeau-BassinBeau-ChampBeau-VallonBeaux SongesBeaux-SongesbeetleBeijing Auto ShowBeijing Motor ShowBel-AirBel-EtangBel-Ombrebelgian grand prixBelgiumBell VillageBell-VillageBelle-MarebentleyBentley Bentaygabernie ecclestonebetamaxbetamax casebicyclebicyclesbikebikesbiodieselBlue-BaybmwBMW 3 SeriesBMW 8 seriesBMW i8BMW M3BMW M4bmw m5BMW x6BMW x7BMW z4boatboatsboeingBogota Auto ShowBois-MarchandBois-Marchand accidentBois-PignoletBologna Motor ShowBon-Accueilbondboschboston dynamicsBPObrabusbrakesbrazilbrexitbribebribesbridgebridgestonebrioBrisée-VerdièreBritish Grand PrixbudgetbugattiBugatti ChironBugatti La Voiture Noirebugatti veyronbuggybuickburnoutbusbusesbuyingbydcadillaccalebassescamaroCamp ChapelonCamp-ChapelonCamp-de-MasqueCamp-DiableCanadacanadian grand prixCandosCanotCap-Malheureuxcaporal Chooluncarcar buying tipscar dealercar dealerscar firecar importcar loancar marketcar rentcar rentalcar salecar salescar servicecar sharingcar showcar theftcar washcarbon fiberCarlos GhosnCarPlaycarscartingcascavelleCaudanCCIDCCTVCEBcelebretiescelebritiescentre de fitnessCentres De Fitnesscertificat de fitnessCESChamarelChamp de MarsChamp-de-MarsChebelChemin-GrenierChengdu Motor ShowcherychevroletChevrolet CamaroChevrolet CorvetteChicago Auto ShowchinaCHINESE GRAND PRIXChris EvanschryslerCité Vallijeecitroencivicclassicclassic carclassic carsclassicscode de la routecollectioncommercialcomparisonconceptconceptsconsumer reportscontraventionsconvertiblecoromandelcorruptioncorvetteCottagecour suprêmeCourtCourtsCPBcr-vcrashcrash testcrash testsCristiano Ronaldocrossovercrowdfundingcruise shipCubaCupraCurepipecustom bikecustom carcustomsCUVCWAcyclonedaciadaihatsudaimlerdakardartzdash camdashcamdatsunde tomasodealersdecongestion routiereDelhi Auto ExpodeloreandesignDetroitDetroit Auto Showdéviationdéviationsdéviations routièresdieseldiesel scandalDIYDLCdodgedodge demonDonald TrumpDPPdragdrag battledrag racedrag racingdriftdriftingdriver licensedriverless cardrivingdriving licensedriving schooldriving schoolsdriving testdriving tipsdronedronesdrug racedrugsdrunk drivingdsDubaiDubai Motor ShowducatiDysonearthquakeEbayebeneecoecologyeconomyEducationEICMAelecticelectionselectricelon muskemissionsEmmanuel Macronengen motor showengineenginesEOCethanoletios livaEUEuropeeveventsexcès de vitesseexpofacebookfailfakefake policeFast And Furiousfaux coupons de parkingfaux permisfaux permis de conduireFCAfermetureFernando AlonsoferrariferryFIAfiatfiestafilmsfinancesfinefinesfinlandFireFirefightersfiskerfitness centerFlacqFlic-en-FlacfloodFloodsFlorealflying carflying taxiFond-du-SacFootballForbachForbach accidentforce indiafordford fiestaford focusFord mustangforest-sideformula Eformula1forza motorsportFrancefrankfurtfrankfurt motor showfraudFSCfuelfuel economy scandalfuel pricefuel stationfuel stationsfunnyfutureGaikindo Indonesia International Auto ShowGaikindo Indonesia International Motor Showgamesgare de Rose-HillGare du Nordgare VictoriageargeelygenesisGeneva Auto Showgeneva motor showgerman grand prixGermanygirlsgmgodzillagolfgolf carGoodlandsgoodwoodgooglegoogle glassgoogle mapsGoProgovernmentgpsgran turismogrand tourgrand-baieGrand-BassinGrand-BoisGrand-Gaubegreat wallgreecegreengreen energygrnoGros-BoisGros-CaillouxGRSE accidentGTAGymkhanahackershakershamannharley davidsonharley-davidsonHatchbackhealthcarehellcatHennesseyHenriettaHermitageherohertzhighlandshistoryhit and runhitachiholdenHollandHollywoodhondaHonda AccordHonda BrioHonda Cityhonda civichonda cr-vHonda Ehonda fitHonda HR-Vhonda jazzHonda s2000Honda VezelHong Konghorsepower falsifyingHospitalhospitalshot rodhot wheelshotelhotelshoverbikehoverboardhow toHuayrahummerhumorhungarian grand prixhurricaneHusqvarnahybridhydrogenhypercarhyundaiHyundai CretaHyundai i20Hyundai Konahyundai Santa FeHyundai TucsonHyundai Velosteri3i40ICACiframacIIHSillegal racesillegal racingillegal rallyillegal taxiillegal transportIMCimportindiaIndia Auto ExpoIndian Motorcycleindian motorcyclesIndian OilindicaIndonesiaIndonesia International Motor Showindonesia motor showinfinitiInfinityinfotainmentinfrastructureinsuranceintelinteriorinteriorsiPadiphoneiranirelandIRPisraelisuzuIsuzu D-maxIsuzu MU-Xitaliaitalian grand prixItalyjaguarjamesjames bondJames Mayjapanjapaneese carsjapanese carjapanese carsJapanese Grand PrixJawajazzJDMjeepJeep CherokeeJeep GladiatorJeep Grand CherokeeJeep Renegadejeep wranglerJeremy ClarksonjettaJin FeijobjobskartkawasakiKawasaki Ninjakei carken blockKenyakhankiaKia CeedKia ForteKia NiroKia OptimaKia SportageKia StingerKoenigseggkoreaKoshik ReesaulKTMKTM DukeLALA Auto ShowLa Brasseriela butteLa FloraLa GauletteLa MarieLa PrairieLa VigieladaLallmatielamborghiniLamborghini Aventadorlamborghini huracanLamborghini Uruslancialandland cruiserland roverLand Rover DefenderLand Rover DiscoveryLarsen & ToubroLaventurelawlawslazarethLe HochetLe Morneleallegolewis hamiltonlexuslicenselight metrolimousineLionel Messilotuslow cost carLRTluxuryluxury carluxury carsL’EscalierM1m2m3macondemad maxMadagascarMahebourgmahindramaintenancemalaysiamanmansorymanual transmissionmanufacturingMapoumapsMare d’AlbertMare-d’Albertmarketmarketingmartinmarutimaruti suzukiMaruti SwiftMaruti Wagon RmaseratiMatt LeBlancMauricioMauritiansmauritiusmaybachmazdaMazda MiataMazda Mx-5Mazda RX-7mazda3McLarenMcLaren 720smecedesmercedesMercedes AMGMercedes G-ClassMercedes G63Mercedes GLEMercedes-MaybachMESmetroMetro Expressmexican grand prixmexicoMGmichael schumachermichelinMicrosoftMidlandsminiminivanMITDmitsubishiMitsubishi DelicaMitsubishi L200Mitsubishi MirageMitsubishi OutlanderMitsubishi PajeroMitsubishi TritonMitsubishi XpandermitsubushimitsuokaMMMMokamonacomonaco grand prixMont-ChoisyMont-RochesMontagne-BlanchemontebelloMontebello accidentmontereymoparmorganMoroccomotomoto-écoleMotoClub Racing TeammotorMotor Racing Clubmotor showMotor Vehicle LicenceMotor vehicle test centremotorcyclemotorcyclesmotorsportmotorsportsmotosportmoviesMPAmpvMRAMRCmugenmuscle carMusicmustangmv agustamv augustaMVDANADA Auto ShowNandanee SoornackNando BodhananonascarNational Coast Guardnavigation systemnavigation systemsNavin RamgoolamNCGNDUNepalnetherlandsnew carnew york auto shownew zealandnfsNHTSANigerianikolanissanissanNissan 370Znissan altimaNissan FrontierNissan GT-RNissan JukeNissan KicksNissan LeafNissan Leaf NismoNissan MicraNissan navaraNissan NoteNissan SentraNissan SkylineNissan TerraNissan TitanNissan ZnorwayNouvelle-FranceNTANTCNürburgringoff-roadoffroadOlympic GamesOnline Renewal of Motor Vehicle LicenceopelOpel Corsapaganipagani huayraPagani ZondaPaillesPakistanPamplemoussespanasonicpapamobileParisparis motor showparkingparliamentPebble Beachpenaltiespenalty pointsPereyberepermis de conduireperoduapetit raffrayPetit-RaffrayPetite-RivièrepetrolPetrol Retailers AssociationpeugeotPeugeot 2008peugeot 508PhilippinesPhoenixPhœnixpickuppickupspininfarinapirelliPitonPlace de l’ImmigrationPlace D’ArmesPlaine-des-PapayesPlaine-des-RochesPlaine-LauzunPlaine-MagnienPlaine-VerteplayboyPNQPointe-aux-PimentsPointe-aux-SablespolandpolarispolicepoliticspollutionPomponettepontPont ColvillePont-Ferpontiacporscheporsche 911Porsche TaycanporsheportPort LouisPort-LouisPoste-de-FlacqPoste-LafayettePoudre-d’Or-HamletPPCPPPprankPravind JugnauthpricepricespriusproguardprotestsprotonPSApublic transportpublict transportQ3qorosQuartier-Militairequatre-bornesr8Raceracingrainrallyrallyerallye illégalrallye motoramrangerange roverratingsRDArecallrecallsrecordrecordsred bullred bull car park driftreduitrenaultRenault ClioRenault Kwidrenault meganerenderingRenewal of Motor Vehicle Licencerent a carrepairreplicaretroReunionRezvaniRHTRiambelRichard DuvalRichard HammondRiche TerreRiche-TerreRichelieurickshawrimacRimac C_TwoRing RoadrioRipaillesRiviere-des-AnguillesRiviere-du-RempartRiviere-Noireroadroad accidentroad accidentsroad closedroad rules & regualtionsroad rules & regulationsroad safetyRoad Traffic (Amendment) BillRoad Traffic ActRoad Traffic Amendment ActRoad Traffic Amendment BillRoad Traffic Billroadsroads safetyrobberyrobotrobotsroche-boisRodrigo DuterteRodriguesrolls-royceromeorond-point de Beau-BassinRose BelleRose Hillrose-belleRose-HillroverRoyal EinfieldRoyal EnfieldRoyal Enfield Continental GTRRSRSURuben RacingRue Jemmapesrue VandermeerschrumoursRussiaRussian Grand Prixrvsaabsafetysafety ratingsafety ratingssafety testsafety testsSaint-PierreSainte-Croixsalesamsungsamusao paulo auto showSao Paulo Motor Showsaudisaudi arabiascamscandalscaniaschool busschool vanscooterscootersseatsebastian vettelSebastopolsecond hand carsecond hand carssecond hand cars importsécurité routièreself driving carself-drivingself-driving carself-driving carsSEMASEMA showSeoul Motor Showservice stationsShanghaishanghai motor showShehzad SooraballyshelbyShellshowsingaporeSingapore Grand PrixskodaSlovakiasmartSMFsnakeSobrinho caseSodnacSohail Sesungkursolar energySolitudesorezesoreze accidentsoulsound systemssouthsouth africasouth koreaspaceXspainSpanish Grand Prixspare partsspeed cameraspeed camerasspeed limitspeedboatspeedingsportSportscarspy shotsssang yongSsangYongssuSt-JeanSt-JulienSt-Louisst-pierrestar warsstartupstations-servicestatisticsSTCste croixSte-Croixstreet racingstrikestudysubaruSubaru ImprezaSudhir SesungkursudySunshine AutosupecarssupercarssuprcarssurveySUVsuzukiSuzuki BurgmanSuzuki ErtigaSuzuki HayabusaSuzuki IgnisSuzuki IntruderSuzuki JimnySuzuki Swiftsuzuki vitaraSuzuki Wagon RSuzuki XbeeSwedenswiftSwitzerlandTATaiwantakatatamarintankTanzaniaTarisa Resorttatatata motorstaxtax fraudtaxestaxiTBStechnlogytechnolgytechnologytenderTerre-RougeTerre-Rouge–Verdunteslatesla model 3tesla model stest drivetestsThai Motor ExpoThai Motor ShowthailandThailand International Motor ExpoThe Grand TourThe ValetheftThierry Henryticket pricetipstiresTMRSUtokyoTokyo Auto Salontokyo motor showtoptop geartotaltourismtourism authoritytoyotaToyota 86Toyota Alphardtoyota C-HRtoyota camryToyota Centurytoyota corollaToyota HiaceToyota HighlanderToyota HiluxToyota Land CruiserToyota PriusToyota RAV4Toyota Rushtoyota supraToyota Tacomatoyota yaristoystoytatractortrafficTraffic BranchtrailerTranquebartransformerstransporttransport policetrendsTrianontricksTriolettriumphTrois-BoutiquesTrou d’Eau DouceTrou-aux-BichesTrou-d'Eau-DouceTrou-d’Eau-DouceTrou-FanfarontrucktruckstsunamituningtuniningTurkeytvstyresUAEuberUBIWUBSukukraineunionsUnited StatesuomuralUrban TerminalUSUSAused carused car importused carsVacoasVacoas-PhoenixvalettaVallée-des-PrêtresVallee-PitotValtonvanvarma caseVeer Luchoomunvehicle inspectionVehiclesvelostervenezuelaVerdunVictoria Bus StationVictoria stationVictoria Urban TerminalvideoVienna Auto ShowvietnamVintagevintage carvintage carsVipervivo energyvolvolkswagenvolvovwvw beetleVW Buggyvw golfVW JettaVW passatvw polovw t-crosswaymoWeatherwheelsWootonWorldyachtyachtsyamahayariszagato
Sell Your Car