“Strong leadership is required,” Yasushi Kimura, Nissan’s chairman, said at a news conference. “Group leadership, where they all support each other, will be more transparent.”Ghosn, before the scandal broke, was working toward a full merger of Renault and Nissan, but some Nissan executives resisted the effort.
Further complicating the matter was Fiat Chrysler Automobiles ’s proposal in May to merge its business with Renault. That idea fizzled when the French government, which holds a 15% stake in Renault, announced it could not decide quickly on the proposal. Meanwhile, Nissan’s financial performance has fallen below investors’ expectations for the past year.
In July, the company said its profit for the period ended June 30, fell about 94.5% from a year earlier, and global sales fell nearly 7%. It also said it would lay off up to 12,500 workers. These cost cutting moves come as global auto sales are falling and manufacturers are spending heavily on technologies such as self-driving cars and electrified powertrains, the profitability of which remains uncertain.
An associate of Uchida’s described the new CEO to Reuters as un-Japanese in his management style, or “very direct in his language, to the point, easy to understand.”Before coming to Nissan in 2003, Uchida worked for Nissho Iwai, now owned by the trading house Sojitz. He graduated from Doshisha University in Kyoto with a degree in theology.
Source: Law Daily Report (lawdailyreport.net)
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