Nissan CEO Makoto Uchida is under deepening pressure over the Japanese automaker's weakening performance and board members are due to gather on March 11 to discuss potential successors, people familiar with the matter have said.
Nissan directors are due to gather on March 11 to discuss potential successors for CEO Makoto Uchida, whose position is seen as increasingly untenable given the Japanese automaker's weak performance, three people familiar with the matter said.
Nissan is suffering from financial troubles, leadership issues and EV struggles, making its recovery uncertain.
Nissan Motor is considering replacing its CEO Makoto Uchida as investor confidence wanes following the breakdown of merger talks with Honda Motor Co, according to Bloomberg News. The collapse of the proposed $60 billion deal has intensified concerns about Nissan's long-term strategy and leadership, prompting directors to explore potential successors.
Nissan Motor is expected to announce a planned streamlining of its executive line-up on March 12, according to three people familiar with the matter.
Nissan is planning to replace its CEO Makoto Uchida following poor earnings and the collapse of talks to combine with Honda Motor Co. That's according to people familiar with the matter. Nicholas Takahashi reports from Tokyo on Bloomberg Television.
Nissan Motor is considering replacing its CEO Makoto Uchida in response to the deteriorating business performance and the failure of negotiations with Honda Motor to establish a joint holding company, Bloomberg News reported on Thursday citing sources familiar with the situation.
Fitch Ratings said on Wednesday it has downgraded Nissan Motor's rating to junk-status BB+ from BBB-, referring to the Japanese automaker's "persistently low profitability, with a delayed recovery trajectory against our expectations".
Nissan's shares jumped after a report said Tesla is being courted as a potential investor. The Financial Times said that a consortium of high-profile figures in Japan are involved.
Tesla CEO Elon Musk appeared to downplay reports of Tesla's interest in Nissan's U.S. factories early on Friday after a report said that a Japanese group—which includes the country's former prime minister—is planning to seek Tesla's investment in the struggling automaker just days after its merger talks with rival Honda collapsed.
Tesla Inc has reportedly emerged at the centre of plans by a high-level Japanese group for an investment in Nissan after the latter's merger talks with Honda fell through. According to Financial Times-cited sources, hopes were that Elon Musk's electric vehicle giant could take a strategic stake in Nissan.
What ailing Japanese automaker Nissan could have that Tesla would want.