Nissan has again shaken up its top management team, this time appointing Ivan Espinosa as its new CEO. He replaces Makoto Uchida who, critics said, failed to reverse the ongoing decline of Japan’s second-largest automaker. The automaker’s chairman warned the new chief executive will face a “challenging start” during a Tokyo news conference that also revealed a number of other senior management changes.
Nissan’s executive team is undergoing a major shake-up, starting with the ouster of Makota Uchida, (c), replaced by Ivan Espinosa (r).
Ivan Espinosa has been named the new chief executive officer at struggling Japanese automaker Nissan.
Described as a “real car guy” by the man he replaces, the 46-year-old executive faces a “challenging start,” Nissan’s chairman said during a Tokyo news conference. The automaker has racked up major losses over the last several years as worldwide sales have gone into a tailspin. Outgoing CEO Makoto Uchida last month announced plans to eliminate 9,000 jobs, close three plants and curb production at others, including the two assembly plants Nissan operates in the United States.
“I deeply regret that I had to pass the baton to my successor in these circumstances,” Uchida said after Espinosa’s appointment was announced.
Yet another shake-up
Uchida came on after Carlos Ghosn’s was arrested for alleged financial crimes.
Nissan has been embroiled in turmoil ever since the automaker ousted its former boss, Carlos Ghosn in 2018, following his arrest on a variety of financial charges. Ghosn was replaced by his former protégé, Hiroto Saikawa but that executive was himself forced out a year later following his own financial scandal. Uchida has been CEO ever since.
But Uchida’s tenure has been a rough one. Nissan faced backlash over the controversial arrest and prosecution of Ghosn – who escaped house arrest by hiding in a shipping container in December 2019, eventually making it to his ancestral home in Lebanon where he currently remains.
The situation for Nissan has only gotten worse, with sales steadily declining and the automaker’s balance sheet sinking deep into the red. The 58-year-old Uchida did deliver a small profit for the first nine months of its fiscal year – from April 1 through December 31, 2025 – but the numbers plunged to just 5.1 billion yen, or $33 million. The company has predicted it will lose 80 billion yen, or $519 million, for the full fiscal year ending March 31.
A lack of confidence
Makoto Uchida faced increasing pressure to step down as Nissan CEO.
“Given that I am unable to gain the confidence of some of our employees and that the board made a request, I concluded that transitioning to the new top management and making a fresh start will be in the best interest of Nissan,” Uchida said during the Tuesday news conference.
Uchida’s ouster came as anything but a surprise. It had been rumored for some time and many observers felt it was just a matter of time since he’d be replaced after a proposed merger with rival Honda Motor Co. collapsed a month ago. The smaller automaker subsequently said it would be opening to resume negotiations – but only if Uchida were replaced.
Nissan has given no indication it is now ready to resume those talks. But some see the company as a target in play. Chinese tech manufacturer Foxconn has expressed interest in acquiring the Japanese automaker.
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Time to reflect
New Nissan CEO Ivan Espinosa said he needs “time to reflect” before announcing his own turnaround strategy.
During the news conference, Espinosa was peppered with questions about how he plans to move forward – and whether he might make changes to the Ambition 2030 plan announced three years ago, as well as the “emergency” moves, dubbed “Arc,” more recently put in place by Uchida. Those include 9,000 job cuts worldwide, a sharp reduction in global production, and the closure of three assembly plants, starting with one in Thailand.
“I need time to reflect,” said Espinosa, who had been working as the corporation’s chief planning officer. “We’re going to be looking at the whole system,” he added, stressing that his goal will be to bring “stability and growth back to the company.”
That is likely to bring some big changes to the product line-up, based on some of the new CEO’s comments – in line with many analysts have said the automaker needs. Nissan is expected to put particular emphasis on righting operations in both the U.S. and China. In the latter market it faces a particularly tough challenge as Chinese buyers increasingly shift to plug-based models, including PHEVs and all-electric models. Foreign manufacturers have been losing momentum in the face of an aggressive onslaught by China’s newly emboldened domestic makers, including BYD and Geely.
Nissan’s new management team is expected to put a priority on getting its product line-up fixed in key markets like the U.S. and China. The 2025 Nissan Rogue is shown here.
A broad shake-up
The latest management shake-up didn’t end with Uchida – who announced plans to eliminate 20% of Nissan’s executive staff last month.
Among other changes, Guillaume Cartier will become the new global head of marketing and customer experience, adding that to his role as chief performance officer. Eiichi Akashi will move from his role as head of vehicle planning and component engineering into a new role as chief technology offcer. Teiji Hirata will now oversee manufacturing and supply chain management. Others making moves include Jeremie Papin, currently Nissan’s CFO. He will be promoted to executive officer while keeping his role as global finance chief.
Additional changes could follow, with some board members likely to be replaced at the annual Nissan shareholders meeting in June.
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