Nissan's Leadership Shift: Uchida Steps Down Amid Financial Struggles

Nissan Motor Co.'s CEO, Makoto Uchida, steps down following poor financial results, with Ivan Espinosa set to replace him. Uchida will continue as director until the next shareholders' meeting, having recently stopped partnership talks with Honda. Nissan forecasts a loss of 80 billion yen this fiscal year.

Nissan Motor Co.'s CEO, Makoto Uchida, has announced his resignation following disappointing financial outcomes for the automaker. His decision comes as the company struggles, posting a projected loss of 80 billion yen for the current fiscal year.

Uchida's departure has sparked discussions, especially after he canceled talks for a joint venture with Honda Motor Co. Talks shifted focus on turning Nissan into a Honda subsidiary, a proposal Uchida found unacceptable.

Ivan Espinosa, currently Nissan's chief planning officer, will assume the role of CEO, with Uchida remaining a director until the next general shareholders' meeting. Nissan will continue to pursue strategic partnerships in electric vehicles and research.

(With inputs from agencies.)