Nissan CEO Hiroto Saikawa announced his resignation after admitting to receiving improper income linked to the automaker’s stock price.
Saikawa had been under fire since the arrest of his predecessor Carlos Ghosn in 2018. According to reports, the now-former CEO received inflated payments by illegally adjusting the date he cashed in stock options. He promised to return the money and blamed Ghosn for setting up the system that led to the illegal payments. Saikawa has not been arrested or charged with a crime.
Nissan board members has said about 10 candidates are being considered to replace Saikawa, including international candidates. Chief Operations Officer Yasuhiro Yamauchi will serve as interim CEO.