On Thursday, embattled Nissan Motor Co CEO, Hiroto Saikawa confirmed that he had been irregularly compensated contrary to internal company procedures. He, however, denied any wrongdoing

Saikawa irregularly received over $444,000

Saikawa told a local news media that an internal company probe discovered that he and other executives received stock-linked payment exceeding what they were supposed to get. The chief executive received around $440,000 in excess, but he laid blame on a company error. The scandal raises doubt about Saikawa’s pledge to enhance governance in the company following the arrest of Chairman Carlos Ghosn for financial impropriety.

He apologized for any concerns caused by the incident and promised to return the money that was improperly paid. He said that the excess amount from the original registration should be returned to the company. He indicated that he was not involved in the execution of the scheme under the Ghosn era, and all along, he thought the appropriate procedures were followed.

Nissan’s Audit committee revealed the irregularity on Wednesday at a meeting. The finding of the investigation will on Monday be tabled before Nissan’s board, according to Azusa Momose, the company spokeswoman.

Nissan has been battling scandals

The company has been tackling a range of issues attributed to Ghosn. Nissan has indicated that most of the governance and financial issues were a result of overconcentration of power at the hands of Ghosn. The disclosure of Saikawa casts a cloud over a company facing a scandal and industry-wide problems. The company is in the process of cutting its workforce with over 12,500 employees expected to be sent home.

The Japanese automaker is also at the center of a dispute with French carmaker Renault. The company has struggled to cut costs and boost its weakening profitability amid continues allegations of financial impropriety resulting from Ghosn’s 20-year tenure.

Ghosn is allegedly being accused of enriching himself at the cost of around $5 million to the company. The investigation into Saikawa began after former director Greg Kelly alleged that Saikawa received an exception six years ago to reschedule a stock-linked compensation that increases the pay-out to $445,962.