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Sept. 9, 2019, 10:02 a.m. EDT

Nissan CEO out as Japanese car maker seeks to put scandal in rear-view mirror

By Sean McLain

Associated Press
Nissan CEO Hiroto Saikawa pauses during a July news conference at the company’s global headquarters in Yokohama, west of Tokyo.

YOKOHAMA, Japan — Nissan Motor Co. Chief Executive Hiroto Saikawa will step down effective Sept. 16, the company said Monday, ending a term marked by controversy over the arrest of former Chairman Carlos Ghosn.

Nissan director Yasushi Kimura announced the move after a board meeting. He said Chief Operating Officer Yasuhiro Yamauchi would take over as acting CEO after Saikawa’s departure. Kimura said the board hoped to select a permanent successor to Yamauchi by the end of October.

Ghosn led the company (OTC:NSANY) (TKS:JP:7201) for nearly two decades but was stripped of his Nissan posts after his arrest last November. He faces trial next year in Tokyo on charges of financial crimes, including underreporting his compensation. He says he is innocent of all the charges.

An expanded version of this report appears at WSJ.com.

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