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Nissan CEO Who Oversaw Ghosn’s Downfall Testifies in Court Bloomberg 2/24/2021 River Davis (Bloomberg) Former Nissan Motor Co. Chief Executive Officer Hiroto Saikawa told a Tokyo court that he agreed that former Chairman Carlos Ghosn should have been paid more to prevent him from going to a rival automaker. Greg Kelly, the former Nissan director who was arrested on the same day as Ghosn in November 2018, is standing trial for allegedly helping the former chairman of Nissan and its alliance with Renault SA and Mitsubishi Motors Corp. understate tens of millions of dollars in compensation. Saikawa took the stand Wednesday to testify about his role in the events leading to the arrests more than two years ago, which triggered turmoil within the carmaker and later led to his escape from Japan and life as a fugitive in Lebanon. ....
Mr Saikawa, 67, was the most senior leader at Nissan after Mr Ghosn when he was detained, sending shock waves through the alliance and wider business world. That put the Japanese executive in a position to know many of the details behind the allegations against Mr Ghosn and Mr Kelly. With Mr Ghosn in exile, Mr Kelly’s trial is the only forum where those accusations will likely get a full legal airing. Mr Saikawa, dressed in a black suit, told prosecutors that Mr Ghosn didn’t like compensation disclosure rules, and had expressed this to the board. The former chief executive also said he had agreed with Mr Kelly in 2011 that Mr Ghosn should be paid more to prevent him from going to a rival car maker, and that the executive should receive compensation for non-competition and consulting services after retirement. ....