Nissan Motor Co. paid tuition for all four of ousted chairman Carlos Ghosn's children when they attended Stanford University between 2004 and 2015, according to people familiar with the matter.
The perk was part of Ghosn's employment contract from 1999, when he was hired as chief executive officer of the carmaker, said one of the people, who asked not to be named because the information isn't public. The benefit, which isn't common among top executives, would have been worth at least $601,000, according to fee schedules published by Stanford during the years his children were enrolled.
In a statement, Nissan declined comment on the details of executive compensation packages. A spokesman for the family said Ghosn's contract was approved by Nissan and also included payment of pre-university tuition fees. The children graduated at or near the top of their high school classes, he said. A spokesman for Stanford in California said U.S. law prevented the university from giving out information about tuition payments.