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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