Nissan introduces new CEO

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Nissan introduces new CEO

Nissan on Tuesday announced Makoto Uchida as its new Chief Executive Officer.

The board of the company said that Makoto’s appointment as the new CEO will be effective on January 1, 2020.

“We expect Uchida to lead the company as one team, immediately focus on the recovery of the business and revitalize the company,” chair of the board of directors Yasushi Kimura said.

Makoto’s appointment is made weeks after Hiroto Saikawa, the previous CEO, stepped down as he admitted that he, along with other top executives, was overcompensated as part of a stock-related payment plan.

Nissan has experienced a series of mismanagement setbacks as previous former chairman Carlos Ghosn was ousted by the company after being charged of financial misconduct.

Nissan’s alliance with Renault and Mitsubishi has been compromised since then and the issue over overcompensation has continued to be questionable.

In July, Nissan reported its profits dropping 99% for the first quarter of its fiscal year.

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