Nissan establishes Special Committee for Improving Governance

The Nissan Motor Co., Ltd. board of directors today approved the establishment of the Special Committee for Improving Governance. The board also acknowledged ongoing discussions regarding the nomination for the position of chairman of the board and reaffirmed its ongoing efforts to fully inform its Alliance partners Renault and Mitsubishi Motors Corporation.

1. Establishment of Special Committee for Improving Governance

On Nov. 22, the board approved the study of the creation of a committee to receive advice from an independent third party regarding governance management and enhanced governance of director compensation. Following that mandate, the three independent outside directors – Masakazu Toyoda, Keiko Ihara and Jean-Baptiste Duzan – led the study.
Today, the board resolved to establish the Special Committee for Improving Governance, incorporating external independent experts based on the recommendations of the independent outside directors. (See attachment for details.)
Taking into account the results of the investigation into acts of serious misconduct by the former Nissan chairman and former representative director, the Special Committee for Improving Governance aims to find the root causes and provide recommendations for the enhancement of the company’s governance, including proposals to improve approval processes and governance for determining director compensation and to provide recommendations for creating a healthy state of governance as the foundation for sustainable business in a leading global company.

2. Appointment of chairman of the board

On Nov. 22, the board approved the establishment of an advisory committee that will propose nominations from the board for the position of chairman. The committee is composed of Masakazu Toyoda who chairs the committee, Keiko Ihara and Jean-Baptiste Duzan.
Today, the board received and acknowledged the report from the committee that the committee will continue its discussions.

3. Alliance partners

Nissan continues its efforts to keep its Alliance partners fully informed. Today at the board meeting of Mitsubishi Motors, Nissan presented a full briefing of the conduct of the former Nissan chairman and representative director. Nissan today reaffirms to Renault its readiness at any time to provide a full briefing at a Renault board meeting in order to maintain an equal understanding among the Alliance partners.

- Documents (2)

Special Committee for Improving Governance 181217-01-e

80KB

Nissan establishes Special Committee for Improving Governance

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