Struggling Nissan Pays 646 M. Yen to 4 Retired Execs

Tokyo, May 27 (Jiji Press)--Struggling Nissan Motor Co. has paid a total of 646 million yen in retirement compensation for four executives, including former President Makoto Uchida, according to a notice of a general shareholders meeting released by the company on Tuesday.

The large payment could provoke a backlash from Nissan shareholders, especially after the company recorded a consolidated net loss of 670.8 billion yen for the year ended this March.

Uchida stepped down at the end of March over the company's poor performance and its failed merger talks with Honda Motor Co.

Nissan is scheduled to hold a general shareholders meeting at its headquarters in Yokohama, south of Tokyo, on June 24. It will seek shareholder approval for matters including the appointment of current President Ivan Espinosa to the board.

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