Nissan is struggling right now. Next week, it might have a new leader directing its recovery. A report alleges that CEO Makoto Uchida could step down as soon as next week when the board of directors picks his successor. The company’s nomination committee met on March 6 to select a candidate.
Rumors about Uchida’s departure began circulating after the merger deal with Honda collapsed. According to the new Nikkei Business report, Uchida’s rumored exit could also revive the talks with Honda. One source told the publication, “…the discussion will proceed in the direction of accepting Honda’s investment.” Still, it’s unclear if Nissan will become a subsidiary as Honda had reportedly wanted.
According to Reuters, potential successors are rumored to include Nissan Chief Financial Officer Jeremie Papin and Chief Planning Officer Ivan Espinosa, but there’s no clear favorite yet. However, the board will unlikely let Uchida continue in his current position.
Regardless of who’s leading Nissan next week, the automaker has quite a hole to dig itself out of. Declining revenues, higher costs, and increasing competition put Nissan’s future in doubt. One insider said in November that the company only had 12-14 months left, and even Uchida admitted that the company would not survive without outside investment.
The company has taken drastic action in the last year to rectify its problems. It’s laying off workers, cutting global production, and continuing to look for new investment and potential partners.
Here’s More Nissan News:
Honda Wanted Nissan to Scrap Its Hybrid Tech: Report
Foxconn Wants to Work With Nissan, Not Acquire It
Source: Nikkei Business, Reuters