AIRLINK 79.41 Increased By ▲ 1.02 (1.3%)
BOP 5.33 Decreased By ▼ -0.01 (-0.19%)
CNERGY 4.38 Increased By ▲ 0.05 (1.15%)
DFML 33.19 Increased By ▲ 2.32 (7.52%)
DGKC 76.87 Decreased By ▼ -1.64 (-2.09%)
FCCL 20.53 Decreased By ▼ -0.05 (-0.24%)
FFBL 31.40 Decreased By ▼ -0.90 (-2.79%)
FFL 9.85 Decreased By ▼ -0.37 (-3.62%)
GGL 10.25 Decreased By ▼ -0.04 (-0.39%)
HBL 117.93 Decreased By ▼ -0.57 (-0.48%)
HUBC 134.10 Decreased By ▼ -1.00 (-0.74%)
HUMNL 7.00 Increased By ▲ 0.13 (1.89%)
KEL 4.67 Increased By ▲ 0.50 (11.99%)
KOSM 4.74 Increased By ▲ 0.01 (0.21%)
MLCF 37.44 Decreased By ▼ -1.23 (-3.18%)
OGDC 136.70 Increased By ▲ 1.85 (1.37%)
PAEL 23.15 Decreased By ▼ -0.25 (-1.07%)
PIAA 26.55 Decreased By ▼ -0.09 (-0.34%)
PIBTL 7.00 Decreased By ▼ -0.02 (-0.28%)
PPL 113.75 Increased By ▲ 0.30 (0.26%)
PRL 27.52 Decreased By ▼ -0.21 (-0.76%)
PTC 14.75 Increased By ▲ 0.15 (1.03%)
SEARL 57.20 Increased By ▲ 0.70 (1.24%)
SNGP 67.50 Increased By ▲ 1.20 (1.81%)
SSGC 11.09 Increased By ▲ 0.15 (1.37%)
TELE 9.23 Increased By ▲ 0.08 (0.87%)
TPLP 11.56 Decreased By ▼ -0.11 (-0.94%)
TRG 72.10 Increased By ▲ 0.67 (0.94%)
UNITY 24.82 Increased By ▲ 0.31 (1.26%)
WTL 1.40 Increased By ▲ 0.07 (5.26%)
BR100 7,506 Increased By 12.9 (0.17%)
BR30 24,683 Increased By 124.5 (0.51%)
KSE100 71,971 Decreased By -80.5 (-0.11%)
KSE30 23,749 Decreased By -58.8 (-0.25%)

TOKYO: Nissan Motor shareholders on Tuesday backed Chief Executive Makoto Uchida and other board nominees at its first annual general meeting since reaching a new deal with alliance partner Renault.

The shareholder meeting has taken place amid new ructions for the automaker’s management.

Nissan is investigating claims that Uchida carried out surveillance of deputy Ashwani Gupta, sources have said. Gupta has left the company as of Tuesday.

The claims, made in a letter to independent directors by a senior Nissan advisor, highlighted a stark split in senior management over Nissan’s relationship with Renault and concerns about transfers of intellectual property to the French carmaker.

There were no questions by shareholders about the claims at the shareholder meeting. Details about the letter were only published on Saturday.

Nissan and Renault have yet to finalise the terms of a deal announced in February under which the Japanese automaker would take a stake of up to 15% in Ampere, an electric vehicle unit Renault is spinning off, and Renault would reduce its 43% stake in Nissan.

The support from shareholders for the 10 board nominees, including IBM veteran Brenda Harvey as an outside director, was widely expected given the strength of support for management among Japan’s individual investors.

The meeting was restricted to shareholders. Reuters monitored a webcast provided for investors who did not attend in person.

Shareholders on Tuesday also rejected a proposal by an individual investor for higher dividends this financial year that was opposed by the company’s board.

Comments

Comments are closed.