Business

CEO Carlos Ghosn Stepping Down; Hiroto Saikawa Succeeding

CEO Carlos Ghosn Stepping Down; Hiroto Saikawa Succeeding

But he will remain CEO at Renault and be heavily involved in the company, an indication of the depth of problems he still sees at the French vehicle maker. The move will reportedly allow Ghosn to focus on the deployment of "his cost-cutting expertise" across the alliance - at Renault SA and Mitsubishi Motors Corporation, in addition to Nissan.

Nissan chairman Carlos Ghosn.

"I am confident that the management team I have developed at Nissan over the past 18 years has the talent and experience to meet the company's operational and strategic goals", Ghosn said in a statement.

Mr Ghosn will seek a renewal of his mandate from shareholders at Nissan's general meeting in June.

Mugabe turns 93, vowing to rule on in Zimbabwe
The nonagenarian has been endorsed by his governing Zanu-PF party as its candidate for elections next year, when he'll be 94. The economic crisis triggered a wave of protests previous year .

The alliance, that also includes Lada-maker Avtovaz and Dacia, is close to the top-three in the world of GM, Volkswagen and Toyota.

Known as "Le Cost Killer" from his earlier careers at Renault and Michelin, Ghosn burnished his reputation by engineering Nissan's comeback from years of losses and debt. "I am committed to supporting the Alliance as it evolves and expands, and will continue to serve each member of the Alliance wherever and whenever necessary". Between April 2013 and October 2016, he was Nissan's chief competitive officer.

Mr Saikawa joined Nissan in 1977 and since 1999 he has served in a number of senior management positions, which included overseeing operations in the Americas and Europe. But he became a famously globetrotting CEO by also taking on responsibilities for running France's Renault. A release from Nissan stated that Ghosn wanted to focus more on the Renault-Nissan-Mitsubishi Alliance.

Carlos Ghosn, perhaps the most powerful man in the global auto industry, is stepping down from his role as CEO of Nissan Motor Co. Outside Nissan, Saikawa is chairman of the Japan Automobile Manufacturers Association.


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