Uchida's departure is due to poor results in recent years, with losses amounting to millions.
Japanese automaker Nissan announced Tuesday that President and CEO Makoto Uchida will step down from his position as of April 1, with Mexican Iván Espinosa taking over as CEO of the company.
Uchida's departure is due to poor results in recent years, with losses amounting to millions. At the end of its fiscal year (which ends on March 31), the company expects losses of almost 500 million euros, plans to eliminate 9,000 jobs and reduce its production capacity by up to 20% in the coming years.
Late last year, Nissan asked Honda for help and reached an agreement in principle to merge into a joint holding company . However, the carmakers called off negotiations after Uchida declined the offer, arguing that the company would remain a mere subsidiary of Honda, although he admitted that "it would be very difficult to survive without relying on future collaborations."
Nissan has said the change in leadership is in order to "achieve the company's short- and medium-term goals while positioning it for long-term growth."
OTHER CHANGES IN NISSAN'S HIERARCHY
The Japanese company has also announced several other changes to its executive committee, with Jeremy Papin moving from CFO to CEO. Teiji Hirata, currently Executive Vice President of the Vehicle Production Engineering and Development Division, will take on the role of Director of Monozukuri and Executive Director, responsible for manufacturing and supply chain management, succeeding Hideyuki Sakamoto.
Guillaume Cartier, Chief Performance Officer and Chairman of the AMIEO Management Committee, 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 CEO, succeeding Kunio Nakaguro.
Uchida and Sakamoto will retain their positions as directors until the annual general meeting of shareholders scheduled for June, although it is not known what role they will have at Nissan in the future or whether they will continue with the company.
