After a long saga of corporate musical chairs, the Nissan board has named Ivan Espinosa as its new CEO. He is currently the chief planning officer and will take the reins of the company on April 1 succeeding Makoto Uchida. Espinosa, who has been with Nissan since 2003, has spent significant time in Mexico and Southeast Asia, where he led product planning initiatives—including the company’s push into electric vehicles. According to a Reuters report, Nissan is also undergoing several other senior management changes in response to the company’s evolving growth strategy.
Major reshuffle in Nissan
With Nissan’s fortunes dwindling massively, Espinosa has a herculean task ahead as the Japanese automobile manufacturer recently announced that it expects a net loss of $541 million for the current fiscal year ending in March. Espinosa joined Nissan In 2003 and has been part of the company’s global product strategy.
The other key appointments that will come into effect on April 1 are Guillaume Cartier, chief performance officer and chairperson of the Management Committee for AMIEO, who will have an expanded role that includes global marketing and customer experience. Eiichi Akashi, currently corporate vice president (CVP) of the Vehicle Planning and Vehicle Component Engineering Division, will become chief technology officer and executive officer, succeeding Kunio Nakaguro. Teiji Hirata, currently CVP of Vehicle Production Engineering and Development Division, will take on the role of chief monozukuri officer and executive officer, responsible for Manufacturing and Supply Chain Management, succeeding Hideyuki Sakamoto.
Uchida and Sakamoto will retain their position of director until the annual general meeting of shareholders planned for June.
Is Honda-Nissan merger back on the table?
Honda and Nissan have been in talks for a potential tie-up between the two companies since last year, but it came to a screeching halt last month in February. Earlier, Honda wanted Nissan to be a fully owned subsidiary, which was rejected by the current CEO, Uchida. The Nissan Board were unhappy with the failed merger talks and decided to change the leadership. With Espinosa taking the helm, Nissan could revive talks with Honda that could help both companies reshape the electric and hybrid market.
