Nissan Motor shareholders rejected the reappointment of Motoo Nagai to the board, ending the tenure of an influential outside director after he lost the support of key stakeholder Renault, following a rare public standoff at Japan¡¯s typically staid annual meetings.
CEO Ivan Espinosa announced the results at Nissan¡¯s annual meeting on Tuesday?and confirmed that 11 other directors had reached the majority needed to be appointed, or reappointed.
Renault, which holds 15% of voting rights, had planned to abstain from voting for Nagai, people with knowledge of its plans had said. Nagai, a former banker, played a pivotal role during the 2018 ouster of former Chairman Carlos Ghosn and the subsequent appointment of executives.
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