Nissan CEO Saikawa says he's ready to resign once successor is found

Hiroto Saikawa, president and chief executive officer of Nissan Motor Co., speaks during a news conference in July 2019. Foto: Akio Kon, Bloomberg

Nissan Motor Co. Chief Executive Officer Hiroto Saikawa said he won't resign for being at the center of turmoil over excess compensation, but is ready to take responsibility for scandals involving former Chairman Carlos Ghosn and will exit as soon as a successor is found.

Following reports last week that he and other Nissan executives were paid more than they were entitled to, Saikawa has been facing mounting pressure. It's the latest blow to the CEO, who has spent the period since Ghosn's shock arrest last November for financial crimes trying to right the carmaker as it grapples with decade-low profits, job cuts and the destabilization of losing a leader who loomed large over Nissan for two decades...

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