Former Nissan Motor Co. President and Chief Executive Officer Hiroto Saikawa said in a recent interview with The Yomiuri Shimbun that former Chairman Carlos Ghosn instructed him to consider management integration with Renault SA, but that he insisted on Nissan's independent management.
"I was against it because there would be more side effects [than benefits]," Saikawa told the Yomiuri. "I tried to prevent the possibility, at the risk of losing my position."
Nov. 19 marks one year since Ghosn was arrested.
Renault is the largest shareholder in Nissan, with a 43.4 percent stake, while Nissan owns 15 percent of Renault. Specific discussions on integrating their management began after Ghosn's reappointment as CEO of Renault was announced in February 2018, according to Saikawa. When Ghosn was arrested in November 2018 on suspicion of under-reporting his remuneration on financial statements, some people said Nissan had ousted him to avoid integration with Renault.
Saikawa, 66, denied this, saying, "[Ghosn's] fraud and the integration were completely unrelated, but some people spread the rumor."
"I was in a difficult position as president because [Ghosn] had all the power, including personnel management and remuneration. Sometimes I was ignored."
Saikawa also said there was a possibility of discussing a reduction of Renault's stake in Nissan this summer.
"The alliance was designed to increase investment efficiency. We need to have a good balance with each other and retain our individuality," he said.
Regarding Nissan's new leadership, in which Makoto Uchida, 53, will become president and CEO on Dec. 1, Sakiawa said, "They should immediately create a setting where we can have an equal discussion with Renault."
Saikawa resigned this September, over the improper addition to his executive renumeration of tens of millions of yen linked to stock prices.
"Word that I would resign due to the backlash at the company spread and created a bug fuss. I resigned a few months earlier than I expected to avoid turmoil," he said with chagrin.
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