More executive pay problems at Nissan

|About: Nissan Motor Co., Ltd. (NSANY)|By:, SA News Editor

Another scandal over executive pay is brewing at Nissan (OTCPK:NSANY) after CEO Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn.

Saikawa apologized and vowed to return any improperly paid funds, including tens of millions of yen received through a stock appreciation rights program.

Nissan has been trying to strengthen governance, slash costs and boost flagging profitability amid persistent allegations of financial misconduct stemming from Ghosn's 20-year reign at Japan’s second-biggest automaker.

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