Nissan’s Chief Executive Officer, Makoto Uchida, has resigned after the collapse of merger discussions with Honda and ongoing financial challenges. The company’s Chief Planning Officer, Ivan Espinosa, will assume the role of CEO on April 1.

The proposed merger between Nissan and Honda, which aimed to create the world’s third-largest automaker, fell apart due to disagreements, including Honda’s proposal to make Nissan a subsidiary.

This development intensified scrutiny of Uchida’s leadership, leading to his departure.

Under Uchida’s tenure, Nissan faced declining sales in key markets and struggled to adapt to industry shifts, such as the increasing demand for hybrid vehicles in the U.S.

The company also grappled with challenges stemming from the COVID-19 pandemic and heightened competition from Chinese electric vehicle manufacturers.

Espinosa, who has been with Nissan since 2003 and has extensive experience in product planning and electric vehicles, expressed optimism about revitalizing the company’s global sales and strengthening its market position.

He plans to focus on forming strategic partnerships and executing a turnaround plan that includes job cuts and reduced production capacity.

Renault, Nissan’s alliance partner, has expressed confidence in Espinosa’s commitment to maintaining and enhancing their collaborative relationship.

As Espinosa steps into his new role, he faces the challenge of navigating Nissan through a rapidly evolving automotive landscape, addressing internal restructuring, and restoring the company’s financial health.

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