It seems like Nissan is having a trouble when it comes to picking an honest CEO. (Image via Nissan Global)
Nissan picks its Chinese head for its new CEONissan had been turned upside down by the arrest of its former chairman and CEO, Carlos Ghosn, in November 2018 due to financial misconduct. Hiroto Saikawa was appointed as the replacement for Ghosn. However, Saikawa was forced out in mid-September having been caught red-handed receiving suspicious income related to stock compensation.
The board members got the time until the end of October to appoint a proper replacement for Saikawa. However, the appointment came faster than expected.
On late Tuesday, board members Yasushi Kimura and Masakazu Toyoda held a 30-minute press conference to appoint Makoto Uchida, the President of Nissan’s Chinese unit, Dongfeng Motor Co., as the new CEO. The board members also promised to improve governance within Nissan.
Nissan’s board members consider Uchida’s portfolio as the main reason why it chose him. Fond with overseas business, Uchida succeeded in leading a bilateral partnership between Nissan and Renault where the European automotive company owns 43% shares in Nissan. Therefore, Toyoda asserted that Uchida was a good fit for the CEO’s seat.
Uchida did not appear during the press conference.
The board members also appointed the COO at Mitsubishi Motors Corp., member of Renault’s management committee, Ashwani Gupta, as the new COO for Nissan, adding an international face in the leadership.
These appointments will have to wait until January 2020 for the signatures from the shareholders.