Nissan reforms governance structure, CEO to concentrate on 'succession plan'

Nissan's annual general meeting has approved sweeping governance changes, which were championed by its CEO Hiroto Saikawa. As part of the reforms, the Nissan 11-strong board will feature two representatives each from Nissan and Renault, and seven independent directors. The company also gains three new committees overseeing nomination, compensation and audit. These committees will be led by outside directors, but will have representative each from Nissan and Renault.