Nissan ‘faces SEC probe into executive pay reports’
Nissan is reportedly facing a US probe over whether it accurately revealed executive pay, it emerged today.
The Securities and Exchange Commission (SEC) is set to begin an investigation into the matter, according to Bloomberg, coming as the company’s former chair stands trial on charges of financial misconduct.
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A spokesperson for the car manufacturer said: “I can confirm that we have received an inquiry from the SEC, and are cooperating fully. We cannot provide further details.”
The news follows Japanese prosecutors charging Nissan for falsifying financial documents concerning executives’ salaries.
Meanwhile ousted ex-chairman Carlos Ghosn has been refused bail in Tokyo, where he is awaiting trial on charges of underreporting his salary and transferring personal losses to Nissan.
Read more: Renault board separates top two jobs following Ghosn departure
He resigned from his role as Renault chief executive and chairman after his bail application was rejected, with the car manufacturer subsequently separating the roles.
Ex-Michelin boss Jean-Dominique Senard will serve as the French firm’s new chairman and interim boss Thierry Bollore will take over as chief executive.