TOKYO: Nissan Motor Co said on Friday that Hiroto Saikawa would stay on as chief executive, backing the protege of former boss Carlos Ghosn even as top shareholder Renault pushed for a change in the Japanese automaker’s leadership.
Saikawa’s re-appointment is likely to be seen as a rebuff to Renault, which has been pushing for leadership change at Nissan as a prelude to merger talks, sources at both companies have told Reuters. Saikawa — who has long opposed full integration — is seen as an obstacle to a tie-up, several people have told Reuters. Nissan’s lacklustre performance in the months since the dramatic ouster of Ghosn, following his arrest on charges of financial misconduct, has sparked concern at Renault.
Analysts estimate that Nissan’s planned 30 per cent dividend cut this year will wipe around 130 million euros ($145 million) off Renault’s earnings.
Nissan also said that Renault Chief Executive Thierry Bollore will join its board, while Renault Chairman Jean-Dominique Senard will remain on the board. — Reuters
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