Nissan CEO Makoto Uchida resigns, Ivan Espinosa appointed successor

Nissan CEO Makoto Uchida will step down on April 1, with Chief Planning Officer Ivan Espinosa appointed as his successor. This leadership change follows a failed merger attempt with Honda and a significant decline in Nissan's financial performance, including a projected net loss of 80 billion yen for the fiscal year. The decision to replace Uchida, who will remain on the board until June, comes as part of a broader restructuring plan aimed at revitalizing the company amid ongoing production challenges and global competition. Espinosa, who has been with Nissan for over 20 years, expressed his commitment to leading the company through this challenging period. The management overhaul may also open the door to renewed discussions regarding a merger with Honda, which had faltered under Uchida's leadership due to disagreements over control. Nissan's restructuring includes a notable reduction in production capacity and aims to streamline operations to better compete in the evolving automotive market.