Why did Nissan Motor Co., Ltd. pay $15 million in fines for the misconduct of its CEO? Nissan’s lax corporate governance paved the way for the wrongdoing.
On September 23, Nissan, the Japanese automaker listed on the Tokyo Stock Exchange, agreed to pay $15 million to settle SEC fraud charges stemming from an alleged compensation scheme involving former CEO Carlos Ghosn. Ghosn’s alleged misconduct is shocking: the Commission charged that Ghosn engaged in a scheme to conceal more than $90 million of compensation from public disclosure and to increase his retirement allowance by more than $50 million. Nearly as disturbing ...
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