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Nissan to keep Saikawa as CEO, name Renault CEO as new board member

This combined photo shows, from left, Nissan Motor Co. President and CEO Hiroto Saikawa, and Renault SA's Chairman Jean-Dominique Senard and CEO Thierry Bollore. (Kyodo)

TOKYO (Kyodo) -- Nissan Motor Co. plans to keep Hiroto Saikawa as its CEO and newly appoint Thierry Bollore, CEO of its alliance partner Renault SA, to its board, pending shareholders' approval in June, sources close to the matter said Thursday.

In a management revamp following the arrest of former Chairman Carlos Ghosn for alleged financial misconduct last November, Nissan plans an 11-member board with six of them outside directors, in line with proposals made in March by its committee set up to enhance corporate governance.

Among the members, Renault, the Japanese automaker's top shareholder, will be represented by Bollore and Chairman Jean-Dominique Senard, who joined Nissan's board in April, the sources said. From Nissan, three officials, including Saikawa and Chief Operating Officer Yasuhiro Yamauchi, will join the board.

Sadayuki Sakakibara, a co-chairman of the governance committee and former chief of the Japan Business Federation, the country's powerful business lobby called Keidanren, has been floated as a candidate to serve as chairman of the board but the idea has now been shelved, the sources said.

Nissan, which decided on the candidates at its extraordinary board meeting on Wednesday, is set to launch the new board after securing shareholders' approval at its regular annual meeting in June.

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