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Nissan's Ghosn highest paid exec in Japan again, at $10M per year

Nissan CEO Carlos Ghosn is on track to be the highest-paid executive in Japan for the fourth time in five years. Ghosn's salary and bonuses last year rang the register to the tune of $9.8 million (995 million yen), and when stock dividends are added to the equation, the exec's total pay crested a billion yen. That represents a 0.7-percent increase over his pay from the previous year. Ghosn earned an additional $3.1 million as CEO of Renault.
According to Bloomberg, Ghosn's compensation was announced at a shareholder's meeting in Japan, prompting an explanation from the CEO. "I understand the sensitivity of the issue," Ghosn said. "Being in Japan should not be a handicap to attract talent. We need the best minds, we need the best talents."
Few would argue with that assessment, we'd guess, but it doesn't answer the question of whether Ghosn is the most talented CEO in Japan. Akio Toyoda, head of Toyota in Japan, earned 230 yen (though, as a large shareholder in Toyota, Toyoda's dividend payments bring him closer to Ghosn) in compensation while steering his automaker to a profit that was five times higher than Nissan's. Honda President Takanobu Ito was paid the comparatively small sum of 150 million yen last year.

North American Car, Truck and SUV of the Year finalists revealed

The finalists for the 2023 North American Car, Truck and Utility Vehicle of the Year Awards were announced Thursday at the L.A. Auto Show. — The Acura Integra, Genesis Electrified G80 and Nissan Z made the cut in the car category. — The Ford F-150 Lightning, Chevy Silverado ZR2 and Lordstown Endurance advanced in trucks. — And the Cadillac Lyriq, Genesis GV60 and Kia EV6 advanced among utilities.  The winners will be announced Jan. 11 in Detroit.  The finalists underscored the industryÂ’s shift to electric vehicles, as all three utilities and two of the three trucks are EVs. The finalists were culled from a list of 26 semifinalists made up of three trucks, 10 cars and 16 utility vehicles that are new this year.  Notables that missed the cut include the Mercedes EQE, Subaru WRX and Toyota GR Corolla in cars; while the Honda CR-V, Kia Sportage and Rivian R1S were among the utes that did not advance. The three trucks are the only ones eligible this year and have advanced through the voting.  50 jurors who work for media outlets across North America vote three times over the course of the year to whittle down the field, which was originally 47 vehicles. Jurors also test the semifinalists at an October group event in Ann Arbor, Mich. The Honda Civic (car), Ford Maverick (truck) and Ford Bronco (utility vehicle) were the 2022 winners. Autoblog Editor-in-Chief Greg Migliore is a NACTOY juror.   Featured Gallery Ford F-150 Lightning View 48 Photos Green LA Auto Show Acura Cadillac Chevrolet Ford Genesis Kia Nissan Truck SUV NACTOY Lordstown Endurance

Nissan sues Ghosn's sister while Renault finds no irregularities in his pay

Nissan sued ousted chairman Carlos Ghosn's sister on Tuesday in a Rio de Janeiro court for "unjust enrichment," according to judicial records seen by Reuters. The suit is the latest twist to a bitter legal fight between Ghosn and Nissan over the contents of a beachfront apartment that the former executive used during his trips to Brazil. Brazilian-born Ghosn is accused of having underreported his income while leading the Japanese carmaker and diverting company funds for his personal use. He is being held in a prison in Japan and the carmaker says there might be evidence of his alleged crimes in the Rio apartment. Additional details regarding the unjust enrichment suit were not immediately available and it was unclear how long it might take to resolve the case. A representative for the Ghosn family did not have an immediate comment. The Japanese press had already reported that Ghosn's sister, Claudine Bichara de Oliveira, could be embroiled in the scandal. Yomuri, Japan's largest daily by circulation, reported in November citing unnamed sources that Nissan's internal investigation had found that Ghosn instructed the company since 2002 to pay some $100,000 a year to his elder sister. The compensation was supposed to be for a role as an adviser. The paper added that Bichara de Oliveira had in fact been living in and managing the Rio apartment that Nissan had bought for the use of Ghosn and that she had done no advisory work for the car maker. Meanwhile, Renault issued a preliminary report indicating that an audit launched in the wake of Chairman and CEO Carlos Ghosn's arrest in Japan had so far found no irregularities with his pay at the French carmaker. Ghosn was charged on Monday in Japan for failing to declare deferred income he had agreed to receive from Nissan, for the five years ending March 2015. There is speculation that Nissan itself may be indicted in Japan as part of the case against Ghosn. While Nissan fired Ghosn days after his Nov. 19 arrest, Renault has resisted pressure to replace him permanently. The Renault board also "noted that, at this stage, it does not have information concerning Carlos Ghosn's defense," the company said after its meeting, which had long been scheduled to discuss 2018-19 financial accounts. During the five-hour session, several directors led by Cherie Blair, wife of the British former prime minister Tony Blair, began to express impatience with that position, two people with knowledge of the matter said.