New Nissan CEO Ivan Espinosa succeeds to Makoto Ushida

Nissan, the Japanese car manufacturer, has decided to change its leadership. The current CEO, Makoto Ushida, will leave at the end of the month. Ivan Espinosa, previously head of planning, will take over as CEO from the 1st of April.

Ushida 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 also on the back burner these days.

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 manage the upcoming transformation in the volume segment independently.

Turbulent months

Last year, after contract manufacturer Foxconn showed interest in acquiring at least part of the 36% of Nissan currently held by Renault, Nissan kicked off negotiations with Honda to prevent Taiwanese Foxconn from getting involved.

Initially, the focus was on a strategic development partnership for electric cars, software, and batteries, but later, the talks touched on a merger to form a joint holding company. However, the merger negotiations failed when Honda insisted that Nissan become a Honda subsidiary. Foxconn has since renewed its interest.

Veteran Espinosa

Espinosa knows Nissan well, having joined the company in 2003 already. He held various management positions for Nissan in Mexico, Southeast Asia, and Europe before moving to the group’s headquarters in Japan in 2016.

The incoming CEO has not yet revealed any significant goals. “We can unlock many possibilities,” he said, declining to comment on the possibility of restarting talks with Honda.

Mexico-born Espinosa was most recently responsible for product planning at Nissan as the company’s Chief Product Planning Officer. Nissan has some catching up to do in its model range, with important markets such as China and the US lacking best-sellers. Nissan is a pioneer in electrification, so it’s strange that the range of electric cars is currently limited.

Reshuffle

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 (Africa, Middle-East, India, Europe, and Oceania), will take on an expanded role that includes global marketing and customer experience.

Eiichi Akashi, currently Corporate Vice President 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, responsible for manufacturing and supply chain management, taking over from Hideyuki Sakamoto, who is also leaving.

In addition to Nakaguro, Sakamoto, and Ushida, the following executives will step down from their current roles on March 31st: Asako Hoshino, Chief Brand and Customer Officer, and Hideaki Watanabe, Chief Strategy and Corporate Affairs Officer.

Finally, Jeremy Papin, Chief Financial Officer, will be appointed as an additional director. Outgoing CEO Ushida and Hideyuki Sakamoto will retain their posts on the board of directors until the annual general assembly, which is scheduled for June.