TOKYO (Bloomberg) -- Nissan CEO Carlos Ghosn earned more than $10 million last year, putting him on track to become the best-paid Japan executive for the fourth time in five years.
Ghosn was paid a total of 995 million yen ($9.8 million) in salary and bonuses for the fiscal year ended March 31, an increase of 0.7 percent from a year earlier, he said at the carmaker’s annual shareholders’ meeting today in Yokohama, Japan. Including dividends, his total compensation rises to more than 1 billion yen.
Ghosn is also CEO of Renault, which last year paid him 2.3 million euros (about $3.13 million at current exchange rates).
Ghosn, 60, is among the few foreigners leading a Japanese company who earned more than four times what Toyota President Akio Toyoda did last year despite Ghosn running an automaker with about a fifth the profit.
Last year, Ghosn steered Nissan to the smallest profit increase among Japanese automakers aside from Daihatsu, hurt by increased U.S. incentive spending and recall costs.
“I understand the sensitivity of the issue,” Ghosn said. “Being in Japan should not be a handicap to attract talent. We need the best minds, we need the best talents.”
Ghosn was the top-paid executive in Japan in three of the four years since 2010, when the country’s financial regulator began requiring disclosures by publicly traded companies of compensations exceeding 100 million yen, according to Tokyo Shoko Research.