Nissan CEO: Board members will forego bonus pay
YOKOHAMA, Japan -- Nissan Chief Executive Carlos Ghosn told shareholders Wednesday that the Japanese automaker's board members will forego their bonus pay to take responsibility for poor performance.
Ghosn acknowledged at a hall packed with more than 2,100 shareholders, a record attendance for Nissan, in Yokohama, south of Tokyo, that the company had not met its targets for fiscal 2006.
"We are taking our responsibility seriously," he said.
In the fiscal year ended March, Tokyo-based Nissan Motor Co. marked its first profit drop in seven years _ the first time earnings have slid under the turnaround efforts led by Ghosn.
Ghosn told reporters after the meeting that Nissan was not in talks with any automaker now about expanding the alliance it already has with Renault SA of France.
