Nissan has announced that Makoto Uchida will step down as CEO on April 1 with Ivan Espinosa, the current chief planning officer, set to succeeds Uchida who retains his position as director until the annual general meeting of shareholders in June.
Espinosa’s appointment marks Nissan’s fourth CEO change in less than six years, a move that comes amid the company’s worsening financial situation and the recent collapse of merger talks with Honda.
Nissan and Honda had signed a memorandum of understanding (MoU) last December to explore a potential merger, but discussions came to an abrupt end in February when Honda proposed a structural shift.
Alongside the leadership transition, Nissan has announced a significant reshuffle within its senior management to address short- and mid-term challenges while positioning the company for long-term growth.
The board of directors has approved new titles and areas of responsibility for its executive team, effective April 1. Espinosa will step into the role of representative executive officer, president, and CEO.
As part of the executive restructuring, Guillaume Cartier, chief performance officer and chairperson of the management committee for AMIEO, will take on additional responsibilities overseeing global marketing and customer experience.
Eiichi Akashi, currently corporate vice president of the vehicle planning and component engineering division, will become chief technology officer and executive officer, succeeding Kunio Nakaguro.
Teiji Hirata, currently corporate vice president of the vehicle production engineering and development division, will assume the role of chief monozukuri officer and executive officer, responsible for manufacturing and supply chain management, taking over from Hideyuki Sakamoto. Jeremy Papin, currently chief financial officer, will also be appointed as an executive officer.
Several executives will remain in their current roles, including Stephen Ma, chairperson of the management coommittee
Several high-profile executives will depart from their roles on March 31, including Asako Hoshino, chief brand and customer officer, and Hideaki Watanabe, chief strategy and corporate affairs officer, alongside Nakaguro, Sakamoto, and Uchida.