Nissan’s tumultuous recent history continues. The automaker recently scuttled a merger with Honda just a few weeks ago. Now, the company hired a new CEO to take over on April 1. It also made some other top executive changes.
Ivan Espinosa, currently Nissan’s chief planning officer, is taking over the roles of president and CEO from Makoto Uchida. Espinosa joined the automaker in 2003 as a product specialist at the company’s division in Mexico. He moved up the ranks quickly. By 2010, Espinosa was director of product planning for Mexico and Latin America. He became a corporate vice president of global product strategy in 2018.
The New CEO
Apparently, the promotion to CEO came as a surprise, even to Espinosa. “I’ve just been informed of this appointment, so I need some time to reflect,” he said during a press conference, according to Automotive News.
He offered some hints at his plan, though. Espinosa intends to take a deep look at North American operations as part of an effort to turn things around. He also wants to reinforce the automaker’s product lineup in the United States.
Uchida spent five years leading Nissan. He took the helm after Carlos Ghosn left the company and fled Japan. The automaker has had a tough time during Uchida’s tenure. Sales have fallen, and dealers have been complaining. Plus, the business is reportedly in financial trouble.
“Given that I am unable to gain the confidence of some of our employees and that the board made a request, I concluded that transitioning to the new top management and making a fresh start will be in the best interest of Nissan,” Uchida said during the conference announcing the executive changes.
Uchida also had nice things to say about his replacement. “Espinosa is still in his 40s and full of energy,” he said. “He’s also a real car guy.”
More Changes
Nissan’s board of directors was allegedly unsure whether to appoint a new CEO quickly or whether to keep Uchida in power while slowly transitioning to new leadership, according to Automotive News citing insider sources. The group eventually decided having Espinosa start in a few weeks was the right choice.
In addition to appointing a new CEO, Nissan is making other changes to its executive structure. Guillaume Cartier, the company’s chief performance officer, is taking on additional roles in global marketing and customer experience. Eiichi Akashi becomes chief technology officer, leaving his previous role as corporate vice president of vehicle planning and component engineering.
TopSpeed’s Take
Nissan’s trials and tribulations have been among the most fascinating stories in the automotive industry this year. We can’t wait to see how a new CEO affects the company’s fortunes. Fresh leadership could be exactly what Nissan needs.
We shouldn’t expect things to change overnight, though. Espinosa doesn’t even take over as CEO until April 1. Plus, executing significant changes in a company as large as Nissan takes time.
Read the full article here