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Nissan Shareholders Reject One Board Nominee Amid Renault Governance Concerns

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Nissan Motor (TYO:7201) shareholders voted in favor of Akiyoshi Koji's appointment as board chairman at the company's 127th ordinary general meeting.

Shareholders also backed all director candidates except Motoo Nagai, according to a statement released on Tuesday.

Renault, Nissan's top shareholder with a roughly 36% stake, abstained from voting on certain board nominees, including Nagai, over independence concerns given Mizuho Financial Group's (TYO:8411) status as Nissan's largest creditor, Bloomberg News reported.

A former Mizuho banker, Nagai played a key role in the 2018 ouster of Carlos Ghosn and was considered influential in executive appointments as the sole director on all three board committees, according to the report.

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