Nissan CEO Signals He Will Step Down

Nissan Motor Co. CEO Hiroto Saikawa says he intends to relinquish his job after the company reforms governance problems revealed by the arrest of ex-Chairman Carlos Ghosn on charges of financial wrongdoing.

Saikawa tells reporters he wants to complete his responsibility to resolve governance issues “as quickly as possible and pass the baton to the next leader.”

Saikawa announced Ghosn’s arrest on Nov. 19 and was highly critical of his former mentor, declaring that Ghosn had concentrated too much power.

But observers at the time suggests Saikawa himself could face scrutiny for failing to identify Ghosn’s alleged misdeeds sooner. He also was criticized for failing to notify alliance partner Renault SA about Nissan’s rationale for charging Nissan.