Nissan CEO resigns after admitting he was overpaid

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Nissan CEO Hiroto Saikawa has resigned. The company’s board of directors announced Saikawa’s departure, which is effective September 16, after a meeting on Monday. It named Chief Operating Officer Yasuhiro Yamauchi as acting CEO while Nissan searches for a successor. Saikawa’s resignation came just days after he admitted to reporters in Japan that he and other top Nissan executives were overpaid as part of a stock-related payment plan.

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