Nissan's chief executive tenders his resignation after acknowledging that he had received dubious income.
Nissan Chief Executive Hiroto Saikawa tendered his resignation Monday after acknowledging that he had received dubious income and vowed to pass the leadership of the Japanese automaker to a new generation.
Saikawa's predecessor, Carlos Ghosn, who led Nissan for two decades, is awaiting trial on various financial misconduct allegations. Ghosn says he is innocent.Board member Yasushi Kimura earlier announced that the board had approved Saikawa's resignation, effective Sept. 16, and a successor would be appointed next month. A search is underway, he added.
The automaker's board met to look into the allegations against Saikawa, as well as other issues related to Ghosn's allegations and corporate ethics at the company.
Ghosn has been charged with falsifying documents on deferred compensation which he had not received. He has also been charged with breach of trust for allegedly funneling company money for personal gain. The investigation listed as examples the use of company jets by his family, use of company money for family vacations and personal gifts and donations to universities.
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