Nissan Motor, Carlos Ghosn fined $16 million for failing to disclose pay

The SEC also reached a settlement with former Nissan director Greg Kelly, who agreed to pay a $100,000 fine over allegations that he helped Ghosn hide pay

Nissan Motor Co. and Carlos Ghosn will pay a combined $16 million to settle a US regulator’s allegations that they failed to disclose more than $100 million in compensation that the automaker’s ex-chairman was slated to receive in retirement.

Nissan was fined $15 million, while Ghosn, 65, was hit with a $1 million penalty, the Securities and Exchange Commission said in a Monday statement. The claims stem from a decision that allegedly gave Ghosn broad authority over pay decisions: Starting in 2004, the board delegated to him power to set compensation for executives and directors, including his own.

That led to Ghosn,