Carlos Ghosn steps aside at Nissan

Brazilian-born Carlos Ghosn has stepped aside as CEO of Nissan Motor Corporation after 15 years at the helm, handing over to Japanese company veteran Hiroto Saikawa.

However, Mr Ghosn is not stepping far – he will retain the chairmanship of the Nissan board, along with the dual roles of chairman and CEO of the global Renault-Nissan Alliance.

If that wasn’t enough, he also remains chairman of Mitsubishi Motors – the ailing Japanese company that Renault-Nissan acquired late last year.

Announcing the move, Mr Ghosn said he was confident that the management team he had developed at Nissan over the past 18 years had the talent and experience to meet the company’s operational and strategic goals.

“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,” he said.

“As Nissan's chairman, I will continue to supervise and guide the company, both independently and within the Renault-Nissan-Mitsubishi Alliance.

“This planned change will also allow me to devote more time and energy to managing the strategic and operational evolution and expansion of the Alliance and ensuring that all its members benefit from the competitive advantages that its scale will deliver.”

Mr Saikawa – a former chairman of Nissan’s North American and European operations – last year was anointed for the top job when he was appointed co-CEO.

His new role will take effect at the start of the Japanese financial year, on April 1.

Mr Ghosn, 62, is best known for spearheading the recovery of both Renault and Nissan from near bankruptcy after cutting his teeth with tyre company Michelin.

Wielding a cost-cutting knife, Mr Ghosn sent the automotive conglomerate back the path to profitability, although he earned a reputation as a tough manager.

In running the Nissan Renault Alliance, his Brazilian-Lebanese background was seen as an advantage – he was neither French or Japanese – and thus able to bridge the gap and weld it together.