Shareholders have voted to retain both CEO Carlos Ghosn and the board of Nissan Motor for a further two years.
Nissan notes the 114th Ordinary General Meeting of Shareholders, held at the National Convention Hall of Yokohama, lasted just under two hours, with 1,379 shareholders in attendance.
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Nissan President and CEO Carlos Ghosn and COO Toshiyuki Shiga reviewed the company’s performance during the fiscal year ending 31 March 2013, and announced their intentions for fiscal 2013-2014.
Three items were proposed to shareholders for approval including the appropriation of retained earnings for the 114th fiscal year, the election of nine directors due to expiration of terms of all directors, and the granting of share appreciation rights (SAR) to the directors.
All items were approved by the shareholders as presented.
Carlos Ghosn told the meeting that he sees that the global automotive industry selling 81 million vehicles during Nissan’s current fiscal year, a YoY increase of three percent. Additionally, he reiterated the company’s goal of selling a record 5.3 million new vehicles during the year, which if attained would be a 7.8 percent year-on-year increase. This would lift Nissan’s global market share to 6.5 percent.
Ghosn also told shareholders that Nissan’s financial performance forecast reflects the company’s growth expectations for this fiscal year. The company anticipates net income of JPY420bn (USD4.42bn) for the year ahead, and consequently suggested a dividend for fiscal year 2013 of JPY30 per share.
Author: Glenn Brooks
