Nissan’s Saikawa to stay on as president, Renault chief to join board: sources

Written by on May 17, 2019

FILE PHOTO: Nissan President and CEO Hiroto Saikawa attends a news conference at its global headquarters building in Yokohama
FILE PHOTO: Nissan President and Chief Executive Officer Hiroto Saikawa attends a news conference at its global headquarters building in Yokohama, Japan, December 17, 2018. REUTERS/Kim Kyung-Hoon/File Photo

May 17, 2019

By Maki Shiraki

TOKYO (Reuters) – Japan’s Nissan Motor Co will keep Hiroto Saikawa on as president and will bring in the chief executive of alliance partner Renault SA as a board member, two sources briefed on the matter said on Friday.

Renault Chief Executive Thierry Bollore is due to join the board, the sources said, while the French automaker’s chairman, Jean-Dominique Senard, will remain on Nissan’s board. The appointments are expected to be announced on Friday and presented for approval at a Nissan shareholder meeting in June.

However, the former chairman of Japan’s business lobby, Sadayuki Sakakibara, who had been widely seen as a potential board candidate, will not be appointed, the sources said, declining to be identified because the information has not been made public.

A Nissan spokesman said the company could not comment on speculation.

There had been widespread speculation about Saikawa’s future and the coming make-up of the board after Nissan this week flagged a 28% drop in annual profit and slashed its dividend, underscoring the difficulty of turning the page following the ouster of former Chairman Carlos Ghosn.

(Reporting by Maki Shiraki; Writing by Takashi Umekawa; Editing by David Dolan)

Source: OANN

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