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Nissan to discuss Saikawa resignation, CEO not 'clinging to his chair' - source

Nissan to discuss Saikawa resignation, CEO not 'clinging to his chair' - source
FILE PHOTO: Nissan CEO Hiroto Saikawa attends a news conference to release first quarter earnings at the company headquarters in Yokohama, Japan July 25, 2019. REUTERS/Issei Kato/File Photo -
Issei Kato(Reuters)
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TOKYO (Reuters) – Nissan Motor Co’s <7201.T> nominating committee will discuss Chief Executive Hiroto Saikawa’s resignation and possible successors at a meeting on Monday, a source familiar with the matter told Reuters.

Saikawa has expressed his desire to resign from the troubled automaker and is not “clinging to his chair”, the source said, declining to be identified because the information has not been made public.

The Nikkei newspaper earlier reported that Saikawa told reporters on Monday he wanted to “pass the baton” to the next generation as soon as possible. The executive has come under pressure since admitting last week to being improperly compensated.

(Reporting by Maki Shiraki; Writing by David Dolan; Editing by Chang-Ran Kim)

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