A Nissan committee set up to strengthen corporate governance after the arrest of former Chairman Carlos Ghosn says it found he had too much power and recommended that the scandal-hit Japanese automaker add more independent outside directors to its board and better oversee compensation and auditing.
The proposed changes were announced Wednesday in Yokohama, where Nissan Motor Co. is headquartered.
The governance committee said it concluded that the “root cause of the misconduct was the concentration of all authority in Mr. Ghosn.”
The committee’s findings underline Nissan’s efforts to distance itself from Ghosn’s upcoming criminal trial.
Ghosn, who led Nissan for two decades and rescued it from near-bankruptcy, says he is innocent. He has been charged with falsifying financial reports and breach of trust.