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Nissan Chief Saikawa is Planning To Step Down due to the Overpaying Scandal

Hiroto Saikawa, the Chief Executive Officer of Nissan, made it to the news headlines when he acknowledged that he was ‘improperly’ overpaid for his position in the company. Now, according to some sources cited by Nikkei Asian Review, Saikawa is planning to step down from position of the chief amidst a potential scandal regarding payments. Nikkei Asian Review has also managed to know that Saikawa has already shared these plans with some Nissan executives. However, the date or time for his exit from the position is yet undecided and will probably be shared with the public as it happens.

“I want to pass the baton to the next generation as soon as possible,” Saikawa was quoted saying by some reporters on Monday. The current CEO also added that the company is now trying to make the transition as seamless as possible. This move from Saikawa was quite expected by the media and the business world, as the case of Carlos Ghosn was no different. In the case of Ghosn, however, the then chief of Renault, he was removed from the position when he was accused of underreporting his earnings. In the case of Saikawa, he has blamed a bug in the company’s system for getting overpaid.

The internal investigation that led to the finding that Saikawa was getting overpaid had begun pretty early, when the issue of Carlos Ghosn was gaining momentum. In addition to collecting information regarding the case of Ghosn, the internal committee also found proof for Saikawa’s increased income during the period. A number of sources have also indicated that the internal investigation committee had started looking for the potential alternatives as soon as the scandal was discovered. Now that Saikawa himself has talked about the intent to step down, everything is concerned.

It is still unclear whether Hiroto Saikawa would have the same fate as Carlos Ghosn, who for long maintained that he has not known any of the issues.

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