Nissan CEO's resignation shows governance is functioning -Japan minister

Credit: REUTERS/KYODO

September 09, 2019 — 10:13 pm EDT

Written by Reuters ->

TOKYO, Sept 10 (Reuters) - The resignation of Nissan Motor Co's 7201.T chief executive is proof that corporate governance at the automaker is functioning properly, Japanese Industry Minister Hiroshige Seko said on Tuesday.

On Monday, Nissan said CEO Hiroto Saikawa would resign on Sept. 16, bowing to pressure after he admitted to being improperly overpaid.

(Reporting by Ritsuko Shimizu Writing by Chang-Ran Kim; Editing by Himani Sarkar)

((ran.kim@thomsonreuters.com; +81-3-6441-1804))

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