Here's where Canadians are living abroad: report
A recent report sheds light on Canadians living abroad--estimated at around four million people in 2016—and the public policies that impact them.
Nissan Chief Executive Makoto Uchida pleaded for patience from disgruntled shareholders Tuesday and promised a turnaround at the Japanese automaker, which is projecting a third year of losses as it struggles to distance itself from a scandal over its former chairman, Carlos Ghosn.
"What we have worked on during years of hardship will bear fruit," Uchida said at the annual regular shareholders' meeting.
Attendance was limited at the meeting, which was also relayed online due to pandemic precautions.
One shareholder got up and demanded a detailed disclosure of Ghosn's alleged wrongdoing, saying questions about governance remained unanswered.
Another shareholder also addressed the Ghosn scandal, saying the problem should have been solved internally instead being handed over to prosecutors.
Nissan Motor Co., based in the port city of Yokohama, has been struggling in recent years. Its brand image was battered by the 2018 arrest of Ghosn over various financial misconduct allegations.
Ghosn jumped bail and fled to Lebanon in late 2019. But his arrest shocked Japan and raised serious questions about leadership at the maker of the Leaf electric car, Z sportscar and Infiniti luxury brand.
"We are sorry to have caused such worries. We are doing our best to recover your trust. I have not forgotten this for a moment," said Uchida.
All shareholders remained anonymous and were identified with numbers.
Separately, another shareholder got up to express his outrage that there have been no dividends for two years, while some executives still are paid huge salaries.
Uchida assured investors the automaker was doing its best to avert a third straight year of losses.
Slammed by weak sales during the pandemic, Nissan is projecting a 60 billion yen ($540 million) loss for the fiscal year ending in March 2022. That's smaller than the losses racked up in the previous two years.
Uchida said profitability was improving, and asked shareholders to give Nissan a bit more time to prove itself. Nissan boasts fine technology in automated driving and electric vehicles, he said.
"Please be assured we will continue with improvements," said Uchida.
At the end of the two-hour meeting, shareholders approved the reappointment of the 12 directors. They include Uchida; Jean-Dominique Senard, an executive from French alliance partner Renault, and seven outside directors.
The approval was shown by applause. Votes were also submitted by proxy and online in advance.
Another proposal, which demanded the disclosure of the alliance agreement between Renault and Nissan, known as RAMA, for "Restated Alliance Master Agreement," was rejected. Nissan management had opposed that, saying confidentiality was necessary.
The relationship between Renault and Nissan has been a recurring sticking point. Ghosn was sent in by Renault to salvage Nissan from the brink of bankruptcy in 1999.
Nissan officials have testified they turned to Japan's criminal authorities to get Ghosn arrested because they feared the alliance was excessively dominated by Renault.
One shareholder at Tuesday's meeting urged Nissan to apologize to Greg Kelly, a former top executive at the company who is being tried in Tokyo, charged with under-reporting Ghosn's compensation. Kelly, an American, says he is innocent.
Uchida declined comment on Kelly's case.
A recent report sheds light on Canadians living abroad--estimated at around four million people in 2016—and the public policies that impact them.
Polish President Andrzej Duda says while no decision has been made around whether Poland will host nuclear weapons as part of an expansion of the NATO alliance’s nuclear sharing program, his country is willing and prepared to do so.
Harvey Weinstein’s lawyer said Saturday that the onetime movie mogul has been hospitalized for a battery of tests after his return to New York City following an appeals court ruling nullifying his 2020 rape conviction.
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Ontario is now home to an invasive and toxic worm species that can grow up to three feet long and can be dangerous to small animals and pets.
A number of LGBQT+2s groups in Central Alberta are pushing back against a request from the Red Deer South UCP constituency to reinstate MLA Jennifer Johnson into the UCP caucus.
It's one thing to say you like Taylor Swift and her music, but don't blame CNN's AJ Willingham's when she says she just 'doesn't get' the global phenomenon.
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
A girl and a boy, both 14 years old, made their first appearance today in a Halifax courtroom, where they each face a second-degree murder charge in the stabbing death of a 16-year-old high school student.
As if a 4-0 Edmonton Oilers lead in Game 1 of their playoff series with the Los Angeles Kings wasn't good enough, what was announced at Rogers Place during the next TV timeout nearly blew the roof off the downtown arena.
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When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”