Latest news with #Uchida
Qatar Tribune
6 days ago
- Automotive
- Qatar Tribune
Nissan's severance payments under fire
Agencies Four former Nissan Motor Co top executives including ex-President and CEO Makoto Uchida received a combined total of 646 million yen for leaving top roles at the embattled Japanese automaker, a general shareholders' meeting notice showed Tuesday. The large payouts may draw investor ire at the June 24 meeting, after Uchida stood down in March following unsuccessful merger talks with Honda Motor Co and with the company planning to ax thousands of jobs with a net loss of 670.9 billion yen for the fiscal year ended March. The three others subject to the severance pay were former chief brand and customer officer Asako Hoshino, former chief technology officer and executive officer Kunio Nakaguro, and Hideyuki Sakamoto, who served as executive officer for manufacturing and supply chain and Sakamoto are still serving as board directors until the end of the shareholders' meeting. The company did not provide details on their individual payouts. Combined remuneration for Nissan's current five executive officers was nearly 1.66 billion yen, according to the notice. Japan's third-biggest automaker by volume has been pressured by faltering vehicle sales in China and the United States. Since new President and CEO Ivan Espinosa took over from Uchida in April, the automaker is rushing to streamline global operations to return to profitability in the next fiscal year. It said in mid-May it plans to more than double staff cuts to 20,000 people and close seven of its 17 vehicle plants.
The Mainichi
7 days ago
- Automotive
- The Mainichi
Former top execs of struggling Nissan got $4.5 mil severance pay
TOKYO (Kyodo) -- Four former Nissan Motor Co. top executives including ex-President and CEO Makoto Uchida received a combined total of 646 million yen ($4.5 million) for leaving top roles at the embattled Japanese automaker, a general shareholders' meeting notice showed Tuesday. The large payouts may draw investor ire at the June 24 meeting, after Uchida stood down in March following unsuccessful merger talks with Honda Motor Co. and with the company planning to ax thousands of jobs with a net loss of 670.9 billion yen for the fiscal year ended March. The three others subject to the severance pay were former chief brand and customer officer Asako Hoshino, former chief technology officer and executive officer Kunio Nakaguro, and Hideyuki Sakamoto, who served as executive officer for manufacturing and supply chain management. Uchida and Sakamoto are still serving as board directors until the end of the shareholders' meeting. The company did not provide details on their individual payouts. Combined remuneration for Nissan's current five executive officers was nearly 1.66 billion yen, according to the notice. Japan's third-biggest automaker by volume has been pressured by faltering vehicle sales in China and the United States. Since new President and CEO Ivan Espinosa took over from Uchida in April, the automaker is rushing to streamline global operations to return to profitability in the next fiscal year. It said in mid-May it plans to more than double staff cuts to 20,000 people and close seven of its 17 vehicle plants.
Japan Today
7 days ago
- Automotive
- Japan Today
Former top execs of struggling Nissan got ¥646 mil severance pay
Four former Nissan Motor Co top executives including ex-President and CEO Makoto Uchida received a combined total of 646 million yen for leaving top roles at the embattled Japanese automaker, a general shareholders' meeting notice showed Tuesday. The large payouts may draw investor ire at the June 24 meeting, after Uchida stood down in March following unsuccessful merger talks with Honda Motor Co and with the company planning to ax thousands of jobs with a net loss of 670.9 billion yen for the fiscal year ended March. The three others subject to the severance pay were former chief brand and customer officer Asako Hoshino, former chief technology officer and executive officer Kunio Nakaguro, and Hideyuki Sakamoto, who served as executive officer for manufacturing and supply chain management. Uchida and Sakamoto are still serving as board directors until the end of the shareholders' meeting. The company did not provide details on their individual payouts. Combined remuneration for Nissan's current five executive officers was nearly 1.66 billion yen, according to the notice. Japan's third-biggest automaker by volume has been pressured by faltering vehicle sales in China and the United States. Since new President and CEO Ivan Espinosa took over from Uchida in April, the automaker is rushing to streamline global operations to return to profitability in the next fiscal year. It said in mid-May it plans to more than double staff cuts to 20,000 people and close seven of its 17 vehicle plants. © KYODO
27-05-2025
- Automotive
Struggling Nissan Pays 646 M. Yen to 4 Retired Execs
News from Japan May 27, 2025 22:11 (JST) Tokyo, May 27 (Jiji Press)--Struggling Nissan Motor Co. has paid a total of 646 million yen in retirement compensation for four executives, including former President Makoto Uchida, according to a notice of a general shareholders meeting released by the company on Tuesday. The large payment could provoke a backlash from Nissan shareholders, especially after the company recorded a consolidated net loss of 670.8 billion yen for the year ended this March. Uchida stepped down at the end of March over the company's poor performance and its failed merger talks with Honda Motor Co. Nissan is scheduled to hold a general shareholders meeting at its headquarters in Yokohama, south of Tokyo, on June 24. It will seek shareholder approval for matters including the appointment of current President Ivan Espinosa to the board. END [Copyright The Jiji Press, Ltd.] Jiji Press
Kyodo News
27-05-2025
- Automotive
- Kyodo News
Former top execs of struggling Nissan got $4.5 mil severance pay
KYODO NEWS - 17 minutes ago - 19:41 | All, Japan Four former Nissan Motor Co. top executives including ex-President and CEO Makoto Uchida received a combined total of 646 million yen ($4.5 million) for leaving top roles at the embattled Japanese automaker, a general shareholders' meeting notice showed Tuesday. The large payouts may draw investor ire at the June 24 meeting, after Uchida stood down in March following unsuccessful merger talks with Honda Motor Co. and with the company planning to ax thousands of jobs with a net loss of 670.9 billion yen for the fiscal year ended March. The three others subject to the severance pay were former chief brand and customer officer Asako Hoshino, former chief technology officer and executive officer Kunio Nakaguro, and Hideyuki Sakamoto, who served as executive officer for manufacturing and supply chain management. Uchida and Sakamoto are still serving as board directors until the end of the shareholders' meeting. The company did not provide details on their individual payouts. Combined remuneration for Nissan's current five executive officers was nearly 1.66 billion yen, according to the notice. Japan's third-biggest automaker by volume has been pressured by faltering vehicle sales in China and the United States. Since new President and CEO Ivan Espinosa took over from Uchida in April, the automaker is rushing to streamline global operations to return to profitability in the next fiscal year. It said in mid-May it plans to more than double staff cuts to 20,000 people and close seven of its 17 vehicle plants. Related coverage: Nissan may sell HQ as it eyes extra 60 bil. yen restructuring costs Nissan tells workers closure of key Oppama plant not decided Nissan to seek early retirement applicants from office staff in Japan
