Nissan in turmoil again as CEO admits he was improperly overpaid, quits

Hiroto Saikawa had been tasked with righting Nissan following the arrest and ouster of former chairman Carlos Ghosn.

Nissan Motor Co CEO Hiroto Saikawa will resign on September 16, the automaker said on Monday, bowing to pressure after he admitted to being improperly overpaid and marking further upheaval at a company battered by scandal and plunging profit.

Saikawa, who admitted to the overpayment last week, will be temporarily replaced by Chief Operating Officer Yasuhiro Yamauchi, Nissan's chairman of the board, Yasushi Kimura, told a news conference.

His resignation marks a dramatic early exit for a man who had been tasked with righting the Japanese automaker following the arrest and ouster of former chairman Carlos Ghosn late last year.