Carlos Ghosn is no longer the Nissan CEO and president. After 16 years at the helm, Ghosn is now handing over the reigns to co-chief executive officer Hiroto Saikawa. It's been announced Saikawa will assume his role later this year, on April 1, 2017 Meanwhile, Ghosn will remain chairman of the Nissan-Renault Alliance, and the CEO of Renault SA.
A New Chapter For Ghosn
Despite stepping down, the former CEO will not let go of responsibility. In fact, he'll have quite a bit to take care of. It's his task to turn Mitsubishi Motors Corp. around. In case you missed the memo, Nissan took a large stake in Mitsubishi last year—a whopping 34%. This came after Mitsubishi admitted to cheating on ratings, struggling with declining global sales, and overstating the fuel economy of it's minicars by roughly 10%.
In an ironic twist, Nissan sold two of said minicars under a partnership agreement, and came under fire when confronted with cheating allegations. Despite this, Nissan was still willing to negotiate and help turn Mitsubishi around.
But what does Ghosn think about this? Is he stepping down in despair, or honor? Judging by his statement, he's doing just fine:
"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. "Having recently taken on new responsibilities at Mitsubishi Motors, and taking into consideration the upcoming Nissan general shareholders meeting, I have decided that the time is right for Hiroto Saikawa to succeed me as Nissan's CEO."
Renewing Roles
According to MSN, Ghosn will try renewing his role as chairman of Nissan's board of directors. He will need to wait for the meeting in June.
In the meantime, it's possible he's focusing on the upcoming production crossover, Eclipse Cross. It is set to unveil at the Geneva show next month. If Ghosn can manage to turn Mitsubishi around, he'll have yet another accomplishment under his belt. He was ranked 18 out of 50 on the Motor Trend 2017 Power List.
What About Saikawa?
Clearly we know enough about the former CEO, but what about the upcoming? Hiroto Saikawa joined Nissan Motor Co. in 1977, and has been working in senior management since 1999. He's been co-CEO since October of last year, training and getting ready for his new role. Prior to this, he was the Chief Competitive Officer for Nissan.
It's safe to say he knows what he's doing. Nissan is in safe hands with Saikawa.
Thoughts?
What do you think about Mitsubishi Motors Corp. Fuel economy lies and declining sales? Do you think former Nissan CEO Carlos Ghosn can turn things around for the failing company?
Let us know what you think in the comments section below!
