The leadership change was considered essential due to “challenges across the industry and Nissan’s performance.”
Nissan has announced a major leadership shakeup, confirming that CEO Makoto Uchida will step down, with current Chief Planning Officer Ivan Espinosa set to take over starting April 1, 2025. This decision follows weeks of speculation about Uchida’s successor, who has led the struggling automaker for over five years.
Espinosa takes the helm at a time of significant industry challenges and underwhelming company performance. Uchida, who assumed the CEO role in 2019 following the Carlos Ghosn scandal, initially steered the company toward recovery in 2022 and 2023.
However, 2024 painted a different picture, marked by declining sales, weak financial results, and a restructuring plan that involved production cuts and layoffs. Adding to Nissan’s woes was the recent breakdown of merger talks with Honda, further straining the company’s outlook.
A Leadership Shift Deemed Necessary
Yasushi Kimura, Independent Outside Director and Chair of Nissan’s Board, emphasized that the leadership change was critical for the company’s future. “Given the industry-wide challenges and Nissan’s performance, we believe a leadership transition is both necessary and appropriate. Nissan is undergoing a major transformation, and we are confident Espinosa is the right person to lead us through this period,” Kimura stated.
Uchida, meanwhile, expressed a more measured stance regarding his resignation. “I’ve always maintained that my departure would be a board decision. As I mentioned last month, I believe ensuring a clear direction for Nissan and promptly passing the leadership baton is the best way for me to take responsibility as CEO,” Uchida explained.
However, he acknowledged the mounting pressure he faced following the announcement of his turnaround plan last fall. “The priority now is to break away from our current situation and set Nissan back on a path of growth,” Uchida added.
Facing External and Internal Pressure
Uchida’s resignation also comes amid mounting external challenges, including the potential impact of former U.S. President Donald Trump’s proposed tariffs on Japanese imports — a major market for Nissan. Combined with the fallout from the failed Honda merger and declining sales, Uchida’s departure seems to reflect the company’s desperate need for fresh leadership.
Though Uchida will remain on Nissan’s board until the company’s annual general meeting in June 2025, his early exit underscores Nissan’s struggle to navigate shifting market conditions and internal turmoil.
Broader Management Overhaul
Uchida’s resignation is only part of a broader leadership shakeup at Nissan. The company also announced changes to its Executive Committee, expanding the responsibilities of some leaders while replacing others. This marks Nissan’s second major management reshuffle following similar adjustments in January.
More: Nissan GT-R R35 Officially Retires After 18 Years of Production
Several high-ranking executives will also leave the company, including Chief Technology Officer Kunio Nakaguro, Chief Monozukuri Officer Hideyuki Sakamoto, Chief Brand & Customer Officer Asako Hoshino, and Chief Strategy & Corporate Affairs Officer Hideaki Watanabe.
According to Nissan, this “significantly revamped leadership team” is aimed at helping the company meet its short- and mid-term goals while positioning it for long-term growth. Whether Espinosa’s leadership will spark a turnaround remains uncertain, but Nissan is clearly banking on change to drive future success.
For more insights, you can watch Nissan’s full press conference, streamed earlier today.
