Uchida to Step Down as Nissan CEO

Economy

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Tokyo, March 11 (Jiji Press)--Japan's Nissan Motor Co. on Tuesday said that President and CEO Makoto Uchida will step down.

Uchida, 58, will be succeeded by Chief Planning Officer Ivan Espinosa, 46, on April 1.

Many within the automaker had been urging Uchida to take responsibility for the collapse of its merger talks with Honda Motor Co.

Uchida told an online news conference Tuesday that he has decided to resign as he became "unable to gain the confidence" of some employees following the turmoil caused by the collapse of the merger talks.

"I've concluded that it's best to make a fresh start under a new management," he also said.

[Copyright The Jiji Press, Ltd.]

Jiji Press