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Nissan-Renault alliance

Nissan CEO Saikawa intends to step down amid pay scandal

65-year-old executive wants to 'pass the baton as soon as possible'

Nissan President and CEO Hiroto Saikawa speaks to reporters in Tokyo on Sept. 9 following his decision to resign from the automaker. (Photo by Kai Fujii)

TOKYO -- Nissan Motor CEO Hiroto Saikawa has decided to step down days after admitting he received improperly inflated compensation, Nikkei learned on Sunday.

Saikawa has told several Nissan executives of his intent. The exact date of his resignation and his replacement are yet to be decided.

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