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Nissan-Renault alliance

Nissan CEO Saikawa admits to receiving inappropriate bonus

Chief denies involvement and promises to reimburse the company

Nissan Motor CEO Hiroto Saikawa is accused of changing a performance-linked bonus in violation of internal rules, according to a company investigation.   © Reuters

TOKYO -- Nissan Motor CEO Hiroto Saikawa on Thursday admitted to receiving inappropriate compensation but denied he was responsible, pushing back against an internal probe that suggested he may have added 47 million yen ($443,000) to his pay by tweaking the terms of a performance-based bonus.

The issue laid out in a report to the Japanese automaker's auditing committee on Wednesday relates to stock appreciation rights, an incentive plan linked to the share price. In May 2013, the company apparently let Saikawa push back the predetermined payout date for this bonus by a week to capture a rise in the stock.

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