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    Nissan Motor Co. Chief Executive Carlos Ghosn

    Nissan Ex-Chair Planned to Get $71Mln From Company After Retirement - Reports

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    TOKYO (Sputnik) - The ousted chairman of the Japanese automaker Nissan Motor, Carlos Ghosn, planned to receive around 8 billion yen ($71 million) from the company after his retirement, NHK broadcaster reported on Saturday.

    The NHK broadcaster reported that Japanese prosecution had found out that Ghosn had understated his 2010-2017 income by around 8 billion yen in his income declaration. Until high incomes declaration became obligatory in the company in 2010, Ghosn used to get paid around 2 billion yen per year. Starting from 2010, Ghosn indicated only half of his annual salary in the declaration, fearing criticism for receiving a "too high" salary. "Placing aside" one half of his annual salary every year, he aspired to receive this amount of money as a retirement benefit and as a reward for company's consulting services.

    READ MORE: Nissan Ex-CEO Understates Salary by $27Mln, Faces New Criminal Case — Reports

    Under Japanese legislation, retirement benefits should be indicated in the income declaration as soon as one learns the amount of this benefit.

    The NHK added that there was no remuneration committee tasked to determine the management's income in the company. The salaries of the company's directors and head were supervised by Ghosn only.

    Ghosn was arrested on Monday on suspicion of financial misconduct, namely, of concealing around 5 billion yen of his income between 2010 and 2015. On Thursday, Nissan Motor confirmed that its board of directors dismissed Ghosn as its chairman and also voted to remove senior executive Greg Kelly.

    Both Ghosn and Kelly could get up to 10 years in prison, a fine of up to 10 million yen, or both for filing a false financial statement.

    On Friday, media reports emerged that Ghosn could face a new criminal charge for allegedly understating his salary by 3 billion yen between 2015 and 2017,

    Related:

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    Nissan, Carlos Ghosn, Japan
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