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June 23, 2003

JAPAN: Nissan’s Ghosn gets a raise – report

Nissan Motor Company shareholders have approved an increase of as much as 33% in the salaries of chief executive officer Carlos Ghosn and other directors, rewarding them for a third year of record profits, Bloomberg News reported. Ghosn, executive vice president Itaru Koeda and five other directors of Japan's second-largest car maker by market value will have the limit on their salaries raised to as much as 2 billion yen ($US17 million) from 1.5 billion yen, the report added.

By bcusack

Nissan Motor Company shareholders have approved an increase of as much as 33% in the salaries of chief executive officer Carlos Ghosn and other directors, rewarding them for a third year of record profits, Bloomberg News reported.

Ghosn, executive vice president Itaru Koeda and five other directors of Japan’s second-largest car maker by market value will have the limit on their salaries raised to as much as 2 billion yen ($US17 million) from 1.5 billion yen, the report added.

Nissan, 44.4% owned by Renault SA, achieved a third straight year of record profits as it increased sales in the United States and Japan, following a record annual loss in 2000, Bloomberg News noted.

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