Proxy company advises shareholders against Saikawa at Nissan

TOKYO – An investor research company is advising Nissan shareholders to vote against the proposal to reappoint Chief Executive Hiroto Saikawa as board director, saying the Japanese automaker needs a “break from the past” after the arrest of his predecessor Carlos Ghosn.

Institutional Shareholder Services made the recommendation in its report for the June 25 shareholder meeting of Nissan Motor Co. in Tokyo.

The report by the global company that offers proxy research and voting advice was published Monday and seen by media Wednesday.

Ghosn has been charged with falsifying financial documents on retirement compensation and with breach of trust in diverting Nissan money for personal gain. He says he is innocent.