Nissan has been on a rollercoaster ride since last year, and the twists and turns just got even more intense. Reports are circulating that current CEO Makoto Uchida will be stepping down as soon as next week.
This piece of information was first reported by Nikkei Business. It was also reported that Nissan’s nomination committee are in the hunt for the next successor and will announce it next week as well.
Uchida’s departure could be linked to the fallout from the failed merger talks with Honda. It is widely known that the deal collapsed due to differences in vision—Honda sought to make Nissan its subsidiary through the merger, a move that Nissan strongly opposed.
However, with Uchida’s exit, the merger discussions could be back on the table as it seems like Nissan has had a change of mind on their stance in the merger. Nikkei Business quoted a Nissan insider stating “We don’t know if it will be a wholly owned subsidiary, but the talks will probably proceed in the direction of accepting Honda’s investment”.
On top of that, Uchida’s exit is said to be a condition that needs to be fulfilled for the merger to be back on the table. In addition to Honda, Nissan is also exploring a four-company collaboration with Taiwanese electronics giant Hon Hai Precision Industry and Mitsubishi Motors, with Nissan set to be the largest shareholder.
As for Uchida’s successor, Reuters has reported that two names are currently on the shortlist: Chief Financial Officer Jeremie Papin and Chief Planning Officer Ivan Espinosa. However, there is also the possibility that Nissan may appoint an interim CEO while the board takes more time to find a permanent replacement.
How will this rollercoaster ride end for Nissan? Only time will tell, but all eyes are now on next week’s big announcement.
(Source: Nikkei Business, Reuters)
