Ivan Espinosa named as new Nissan CEO
Uchida is said to have taken responsibility for the company’s economic crisis and the failed merger negotiations with Honda. The long-standing alliance with French carmaker Renault, which once saved Nissan from an earlier crisis, is on the verge of collapse. However, the Japanese manufacturer is once again in economic trouble and needs a partner. With around three million cars a year, Nissan is considered too small in the industry to independently manage the upcoming transformation in the volume segment.
Last year, after contract manufacturer Foxconn had shown interest in acquiring at least part of the 36% of Nissan currently still held by Renault, Nissan kicked off negotiations with Honda to prevent Foxconn from getting involved. Initially, the focus was on a strategic development partnership for electric cars, software and batteries, but later, the talks even touched on a merger to form a joint holding company. However, the merger negotiations failed when Honda made it a condition that Nissan would become a Honda subsidiary. Foxconn has since renewed its interest.
Espinosa knows Nissan well, having joined the company in 2003 and held various management positions in Mexico, Southeast Asia and Europe for Nissan before moving to the group’s headquarters in Japan in 2016. The incoming CEO has not yet revealed any major goals. “We can unlock a lot of possibilities,” he said, declining to comment on the possibility of restarting talks with Honda.
Espinosa, a native of Spain, was most recently responsible for product planning at Nissan as the company’s Chief Product Planning Officer. Nissan also has some catching up to do in its model range, with important markets such as China and the US lacking best-sellers. The range of electric cars is also rather limited at the moment.
In addition to the CEO position, Nissan’s Board of Directors has decided on further personnel changes. In the Executive Committee, which reports to Espinosa, Guillaume Cartier, Chief Performance Officer and Chairman of the Management Committee of AMIEO, will take on an expanded role that includes global marketing and customer experience. Eiichi Akashi, currently Corporate Vice President (CVP) of the Vehicle Planning and Component Engineering Department, will become Chief Technology Officer, succeeding Kunio Nakaguro, who is leaving Nissan. Teiji Hirata, currently CVP of the Vehicle Production Engineering and Development Department, will become Chief Monozukuri Officer with responsibility for manufacturing and supply chain management, taking over from Hideyuki Sakamoto, who is also leaving. Jeremy Papin, Chief Financial Officer, will be appointed as an additional director.
Outgoing CEO Uchida and Hideyuki Sakamoto will retain their posts on the board of directors until the annual general meeting, which is scheduled for June.
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