Ghosn tells Nissan board no bonus this year
Nissan Motor Co. Ltd. CEO Carlos Ghosn reportedly has put a stop on shareholders’ bonus payments due to the results of fiscal 2006, the first time since he took over Nissan in 1999 that the automaker has seen an earnings decline.
Ghosn said at Nissan’s annual shareholders’ meeting in Yokohama, Japan, to a record turnout of 2,100 company shareholders that Nissan and French auto maker Renault SA do not plan to expand their alliance to include a third auto maker anytime soon.
The Associated Press reports that Ghosn told the audience that shareholders from both Nissan and Renault consider that extending the alliance is more a risk than an opportunity.
Ghosn also denies any knowledge of the French government moving to sell its shares in Renault, and dismisses any notion that Nissan is interested in Ford Motor Co.’s Jaguar and Land Rover brands, which’s high price tags outweigh any possible returns.
Ghosn says Nissan will announce annual dividend targets when it releases its new mid-term business plan in April 2008 and will pay a dividend of ¥40 ($0.32) for the fiscal year ending March 31.
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