Nissan's Fortunes Uncertain A Year after Ghosn's Arrest

Economy

Tokyo, Nov. 19 (Jiji Press)--Nissan Motor Co.'s <7201> fortunes are still uncertain one year after the shocking arrest of former Chairman Carlos Ghosn in Japan.

The Japanese automaker's policy of pursuing expansion that had been led by Ghosn has backfired badly, leading to a serious financial slump.

Nissan's new top executives find themselves on a rocky road as they also face the challenge of rebuilding its alliance with France's Renault SA and Mitsubishi Motors Corp. <7211> of Japan.

On Dec. 1, Senior Vice President Makoto Uchida will take over as Nissan's new president and chief executive officer after his predecessor Hiroto Saikawa, who pushed out Ghosn, resigned in September over a pay scandal.

Mitsubishi Motors Chief Operating Officer Ashwani Gupta was tapped as Nissan's COO and Nissan Senior Vice President Jun Seki will become vice COO, shifting Nissan into collective-style leadership by the three.

[Copyright The Jiji Press, Ltd.]

Jiji Press