TOKYO -- Nissan Motor CEO Hiroto Saikawa's upcoming resignation on Monday may have been triggered by allegations that he inflated his compensation, but the root of the problem lies in his failure to earn the trust of fellow executives.
Nissan management was rattled by a Wall Street Journal article in early August that reported on email negotiations between Nissan and French partner Renault on the alliance's capital structure. Nissan's side called for Renault to reduce its stake in the Japanese automaker to between 5% and 10% from the current 43%, while also proposing a joint venture to show that "the alliance is not dead."
