Nissan Appoints Ivan Espinosa as CEO, Uchida Steps Down

Nissan Motor Co. announced that Ivan Espinosa will succeed Makoto Uchida as president and CEO starting April 1, following Uchida's resignation amid deteriorating financial performance and failed merger talks with Honda. Espinosa, who has been with Nissan since 2003 and served as Chief Planning Officer, faces the challenge of restructuring the company and potentially exploring new partnerships to improve its prospects. Uchida's departure marks a significant leadership change, as he is the fourth CEO in eight years, reflecting ongoing turmoil within the company after the fallout from former chairman Carlos Ghosn's exit in 2018. The decision comes as Nissan struggles with competition from Chinese electric vehicle makers and has recently had to cut its profit forecasts multiple times. It remains uncertain whether Espinosa's leadership will reignite merger discussions or attract new investment opportunities. Other senior executives will also step down alongside Uchida as part of the leadership shakeup.