Nissan chief says he got $9.5 million in pay
Nissan chief executive Carlos Ghosn told shareholders on Wednesday he got $9.5 million in annual compensation, the latest in such disclosures that are new this year in Japan.business Updated: Jun 23, 2010 13:17 IST
Nissan chief executive Carlos Ghosn told shareholders on Wednesday he got $9.5 million in annual compensation, the latest in such disclosures that are new this year in Japan.
Under new government requirements, aimed at boosting corporate transparency, Japanese listed companies must disclose the pay of executives who received 100 million yen ($1 million) or more. Ghosn acknowledged interest was high among shareholders about directors' pay, and he wanted to get that out of the way before tackling other issues at the shareholders' meeting at a hall in Yokohama, a Tokyo suburb.
Ghosn said he got 890 million yen, or about $9.5 million, in compensation for the latest fiscal year, although he did not give a breakdown such as stock options.
He also listed the names of five other directors who got paid more than a 100 million yen, and their paychecks, which were considerably lower than his at between 100 million yen and 200 million yen.
Ghosn said Nissan Motor Co. was a global company with a diverse panel of executives, who deserve to be paid what their counterparts are getting internationally.
He pointed out his pay as chief executive was lower than what other chiefs were getting at comparable companies on average, which he said was $12.6 million.
First Published: Jun 23, 2010 13:16 IST