Nissan Cuts Compensation for Ghosn, Saikawa

Nissan Motor Co. paid then-Chairman Carlos Ghosn 1.65 billion yen ($15.3 million) in the fiscal year ended March 2018, down 42% from the previous year, The Nikkei reports.

Securities reports indicate Ghosn’s compensation was almost entirely base pay and included no stock allocations. Ghosn was arrested last November and dismissed days later for failing to report $82 million in deferred income over eight years.

Nissan CEO Hiroto Saikawa’s compensation for fiscal 2018 dropped 19% to 404 million yen ($3.7 million). He returned part of his pay as a gesture of responsibility for failing to detect Ghosn’s alleged financial crimes.

Saikawa told Nissan shareholders on Tuesday that he will cut his compensation in the fiscal 2019 ended March 31 to 200 million yen ($1.9 million).