TOKYO -- Nissan Motor Co. CEO Carlos Ghosn received more than 1 billion yen ($9.58 million) in compensation for the second straight year after the automaker's profit climbed to a record.
Ghosn, 62, was paid a total of 1.07 billion yen for the 12 months ended March 31, up 3.5 percent from a year earlier, according to a statement distributed at Nissan's annual meeting today in Yokohama, Japan.
After posting record net income, the automaker has forecast that profit in the current fiscal year will be little changed, as a stronger yen erodes overseas earnings.
While Ghosn's pay at Nissan increased, his compensation as CEO of Renault, Nissan's biggest shareholder, was opposed by a majority of its shareholders led by the French government, which has more than 18 percent of voting rights in Renault.
Renault shareholders voted against Ghosn's separate 7.25 million-euro ($8.2 million) paycheck for last year, as the government led a pushback on pay for leaders of companies in which the government owns a stake. The protest was symbolic because compensation is set by a supervisory board committee and only put to a consultation vote.
The average compensation in 2015 for CEOs at comparable global automakers rose 14 percent to $22.2 million, Nissan said, citing an analysis of public data compiled by consulting firm Towers Watson. Ford Motor CEO Mark Fields earned $18.6 million last year, while General Motors CEO Mary Barra received $28.6 million.
Ghosn is spearheading Nissan's move to acquire a 34 percent controlling stake in Mitsubishi Motors Corp., which disclosed in April it manipulated fuel economy ratings.
Reuters contributed to this report.