Nissan CEO Saikawa amid controversy of overpaid compensation

YOKOHAMA-  Nissan Motor Co. CEO Hiroto Saikawa has officially resigned. A new blow to the Japanese carmaker as it struggles to recover from the arrest and ouster of former boss Carlos Ghosn.

He will step down from his post on Sept. 16 amid accusations of financial irregularities. The former CEO is allegedly receiving improper remuneration, adding ¥47 million (US$440,000) to his salary by altering the terms of a bonus.. 

Saikawa admitted that he and other top Nissan executives were overpaid but denying any wrongdoing.

Yasuhiro Yamauchi, The current COO will take over as the as acting CEO.

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