Vehicle maker to set up new governance structure following the arrest of former chair Carlos Ghosn
Men walk past a Nissan Motor Co logo at the company's global headquarters in Yokohama, south of Tokyo, in this February 9 2011 file photo. Picture: REUTERS
“Nissan didn’t have any committees whatsoever, it was just Carlos Ghosn deciding it,” said Zuhair Khan, an analyst at Jefferies in Tokyo. “There needs to be a clear feeling that what is done is correct, and it has to be evaluated by people who have no conflict of interest.” The panel will say that Nissan’s current management should also shoulder some of the responsibility for weak oversight that led to Ghosn’s abuse of power, people with knowledge of the matter said on Wednesday. Their recommendations could change if they are revised at the last minute, said the people, asking not to be identified because the information is not public.
The vacuum in Nissan’s governance created by Ghosn’s exit was becoming a hindrance for the world’s biggest automotive alliance, with decision-making snarled until Nissan establishes a new structure, S&P Global Ratings credit analyst Margaux Pery wrote in a report last week. “Nissan and Renault kissed and made up,” said Janet Lewis, an analyst at Macquarie Capital Securities . “More than anything, it helps the employees stay focused on what they are doing.”
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