TOKYO - Nissan Motor Co said on Friday that Hiroto Saikawa would stay on as chief executive, backing the protege of former boss Carlos Ghosn even as top shareholder Renault pushed for a change in the Japanese automaker’s leadership.
Saikawa’s re-appointment is likely to be seen as a rebuff to Renault, which has been pushing for leadership change at Nissan as a prelude to merger talks, sources at both companies have told Reuters. Saikawa - who has long opposed full integration - is seen as an obstacle to a tie-up, several people have told Reuters.
Analysts estimate that Nissan’s planned 30% dividend cut this year will wipe around 130 million euros off Renault’s earnings. Nissan will also increase the number of board seats to 11 from eight, it said, seven of which will be outside directors.
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