TOKYO - Nissan Motor Co. President and CEO Ivan Espinosa has received remuneration totaling 561 million yen ($3.5 million) for the business year ended March after voluntarily returning half, or 95 million yen, of his annual bonus, a financial disclosure report showed Monday.
His compensation was still about 40 percent higher than that of his predecessor in the previous fiscal year through March 2025 partly because Makoto Uchida had waived half of his base salary since November 2024, according to the report submitted to regulatory authorities.
The report also showed that total remuneration for Nissan's eight external board members amounted to 186 million yen.
Shareholders were told last month that the company's five executive officers, including Espinosa, had received payment totaling 1.39 billion yen.
The struggling Japanese carmaker, which posted a second straight year of red ink, has been pushing ahead with massive streamlining efforts, that include 20,000 job cuts globally by fiscal 2027.
In explaining the management's remunerations, Espinosa said in an interview with Kyodo News earlier in the month, "We are doing what we had to do, what we said we will do in order to secure a strong foundation for Nissan in the future," and "I had to make many difficult decisions, decisions related to manufacturing footprint, restructuring, workforce."
