YOKOHAMA, Japan – Nissan Motor Co., Ltd.’s board of directors decided today to accelerate the company’s transition to a three statutory-committee format. The format is one of the recommendations of the Special Committee for Improving Governance delivered on March 27.
Nissan sees building the best possible corporate governance structure as an urgent task and is working on swift implementation of a new organization. The company is now preparing an internal system to enable transition by the end of June, in expectation of receiving shareholder approval at the scheduled Annual General Meeting of Shareholders.
To this end, the board today approved the Provisional Nomination and Compensation Advisory Council to provide advice to the board of directors. The council will select director candidates for proposal to shareholders in June and advise the board regarding director compensation.
Independent outside director Keiko Ihara chairs the council, which consists of three independent outside directors assisted by three international advisers.
Provisional Nomination and Compensation Advisory Council
| Keiko Ihara (Chair) | Independent Outside Director |
| Masakazu Toyoda | Independent Outside Director |
| Jean-Baptiste Duzan | Independent Outside Director |
Advisers to Provisional Nomination and Compensation Advisory Council
| Sadayuki Sakakibara | International adviser |
| Colin Melvin | International adviser |
| Stephen Davis, Ph.D. | International adviser |