Less than a year since the dramatic downfall of Carlos Ghosn, Nissan Motor Co. is losing another leader.
Chief Executive Officer Hiroto Saikawa was asked by the board on Monday to step down within seven days. He will be replaced by Chief Operating Officer Yasuhiro Yamauchi until a permanent replacement is named by the end of October.
With Saikawa felled by a scandal over excess pay, the automaker finds itself in familiar territory, facing questions over its corporate governance and an uncertain future. In the months since Ghosn — the auto titan who ruled over Nissan for two decades — was arrested for allegedly under-reporting his own compensation and misappropriating funds, Nissan has struggled to bounce back.