Nissan Motor Co's embattled chief executive will step down on Sept. 16 and will be temporarily replaced by Chief Operating Officer Yasuhiro Yamauchi, said the automaker's board chairman.
"Saikawa recently has indicated his inclination to resign, and in line with his desire to pass the baton to a new generation of leaders at Nissan, he will resign on Sept. 16," Chairman Yasushi Kimura told reporters on Monday, reports Reuters.
The company said in a statement it aimed to find a permanent replacement by the end of October.
The decision was taken on Monday after the meeting of the nominating committee that discussed CEO Saikawa's resignation and possible successors, a source familiar with the matter told Reuters.
Saikawa has expressed his desire to resign from the troubled automaker and is not "clinging to his chair", the source said, declining to be identified.
The Nikkei newspaper earlier reported that Saikawa told reporters on Monday he wanted to "pass the baton" to the next generation as soon as possible. The executive has come under pressure since admitting last week to being improperly compensated. (Reuters)
