Nissan shareholders questioned the JPY982m (US$12m) salary paid to chief executive Carlos Ghosn but agreed that he should serve another two-year term in charge.
Japan changed its rules on executive salary disclosures last year; now anyone earning more than the equivalent of $1m has to reveal what they earn.
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Ghosn, who is also head of Renault, Nissan’s alliance partner, told the company’s annual shareholders meeting that his pay was based on global standards. He said the average compensation for comparable auto industry chief executives is $15.3m. Ford’s chief executive Alan Mulally is paid $26.5m.
“Nissan is a Japanese company with global management,” said Ghosn.
Traditionally, Japanese top executives are paid lower salaries than their western counterparts because their role tends to be more that of a figurehead – or ‘salaryman president’ – with key decisions made by a team of senior executives.
Earlier this week, Sony revealed that its chief executive Howard Stringer, a Welsh-born American, received JPY345m ($4.3m), along with stock options worth JPY518m.
