Nissan paid CEO Carlos Ghosn $10 million in last fiscal year

Article by Anita Panait, on June 25, 2013

Carlos Ghosn received a total of JPY988 million ($10 million) in salary and bonuses for his role as chief executive of Japanese carmaker Nissan for the fiscal year ended March 31, 2013. Ghosn's pay for the previous fiscal year reflects a 0.1 percent rise, which came on heels of the carmaker's performance during the period when its operating profit margin dropped to 5.4 percent.

Ghosn's compensation places him on track to be among the highest-paid executives in Japan. In comparison, Toyota president Akio Toyoda received JPY184 million ($1.9 million) while Honda president Takanobu Ito got JPY145 million for the fiscal year ended March 2013.

Nissan, however, noted that Ghosn's pay is lower than the industry average. Nissan, citing estimates at consultant Towers Watson & Co., said that comparable global carmakers paid their CEOs an average of $15.3 million in 2012.

Here are some numbers for other CEOs: Ford's Alan Mulally received $21 million in 2012 while Volkswagen Group's Martin Winterkorn got EUR14.5 million ($19 million) in the same year.

Takashi Aoki, a fund manager at Mizuho Asset Management Co., remarked that Ghosn's pay should reflect Nissan's business performance in the previous fiscal year.

He noted there have been issues with new models in the United States that affected profit, which means management has to take responsibility. In the fiscal year ended March 2013, Nissan posted a 0.3-percent rise in net income to JPy342.4 billion, which is around 64 percent less than Toyota's and 7 percent below Honda.

For this year, Nissan is expecting its profits to surge 23 percent to JPY420 billion. Analysts, however, is expecting the carmaker to surpass its own numbers, according to data compiled by Bloomberg. [source: automotive news - sub. required]

Topics: nissan, ceo, carlos ghosn

If you liked the article, share on:

Comments

Recommended

Earlier this week, Nissan revealed a teaser of the new 2018 LEAF’s interior, giving us an idea of what the electric vehicle has to offer. The company released a video...
by - June 25, 2017
The primary suggestion of a 4x4 ute from French company Peugeot was first revealed in 2016. Fifteen months later, the production version is launched. Now, Peugeot is not shying away...
by - June 24, 2017
The new Jaguar E-Pace crossover will soon hold its official launch on July 13 and is expected to arrive at the showrooms by early next year. It couldn’t have come...
by - June 24, 2017
As prices of the original Shelby Cobra have skyrocketed into astronomical proportions, there are firms like Superformance that serve replicas to consumers who demand the same levels of performance at...
by - June 24, 2017
New and improved 2018 Subaru Legacy comes packed with a number of upgraded features from the get go - from the exterior to the interior. And the company has finally...
by - June 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries