Nissan CEO steps down

The BBC reports that Carlos Ghosn is to relinquish his role as chief executive of Nissan, but will remain chairman of the Japanese car maker.

Hiroto Saikawa, already Nissan’s co-chief executive will succeed Mr Ghosn. Shareholders are to vote on the move at Nissan’s general meeting in June.

Mr Ghosn has been the company’s CEO since June 2001 after being chief operating officer for two years. Under his leadership, Nissan were able to expand in many countries including China, now one of Nissan’s key markets as well as achieving higher profit margins than ever before.

He said, ‘Having recently taken on new responsibilities at Mitsubishi Motors, and taking into consideration the upcoming Nissan general shareholders meeting, I have decided that the time is right for Hiroto Saikawa to succeed me as Nissan’s CEO.’

Mr Saikawa joined Nissan back in 1977 and since 1999 has served a number of senior management roles, including overseeing operations in the Americas and Europe.