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▼ 5 Nissan Execs Receive ¥1.39 Bil Remuneration Despite 2 Years Of Net Losses
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Nissan Motor Co's five executive officers, including President Ivan Espinosa, received remuneration totaling 1.39 billion yen ($8.7 million) for the fiscal year ended March, even though the company reported two straight years of net losses, a shareholders' meeting notice showed Thursday.
As the struggling Japanese automaker is in the midst of overhaul efforts that include the cutting of 20,000 jobs globally by fiscal 2027, Espinosa has voluntarily returned half of his performance-linked payment, according to the notice.
An executive's remuneration consists of fixed, performance-based and stock compensation.
The remuneration for each executive is not disclosed in the notice.
Nissan logged a net loss of 533.10 billion yen in the year ended March, following a net loss of 670.90 billion yen the previous year, as the bottom line was squeezed by hefty restructuring costs.
As the struggling Japanese automaker is in the midst of overhaul efforts that include the cutting of 20,000 jobs globally by fiscal 2027, Espinosa has voluntarily returned half of his performance-linked payment, according to the notice.
An executive's remuneration consists of fixed, performance-based and stock compensation.
The remuneration for each executive is not disclosed in the notice.
Nissan logged a net loss of 533.10 billion yen in the year ended March, following a net loss of 670.90 billion yen the previous year, as the bottom line was squeezed by hefty restructuring costs.
- 29/5 15:48
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