Nissan CEO Saikawa admits to being paid too much by equity scheme

Nissan Motor Co. President and CEO Hiroto Saikawa admitted Thursday he was overpaid by an equity-linked remuneration scheme run by the company.A day after it was reported that he received tens of millions of yen too much under a scheme of so-called stock appreciation rights, Saikawa told reporters in Tokyo that "the operation of the (scheme) was different than it should have been."However, he denied ordering the payment, saying, "I thought the procedures were handled properly and I didn't know (about the misconduct)."Saikawa said he will return the excess amount to the Japanese automaker, w…READ FULL ARTICLE