Nissan Motor President and CEO Makoto Uchida has announced his resignation, citing the company’s continued sluggish performance as the primary reason. Uchida admitted, “I failed to gain the trust of employees.”
To revitalize operations, Nissan has appointed Ivan Espinosa, currently responsible for product planning and other key business areas, as the new president.
Key Moments from the Press Conference
【18:30】 Press Conference Begins
Nissan’s online press conference started on time, featuring Makoto Uchida, incoming president Ivan Espinosa, and Board Chairman Yasuyuki Kimura.
【18:32】 Kimura: Leadership Change is Essential
Kimura emphasized, “Given the challenges in the industry, we need fresh leadership. Espinosa has a deep understanding of Nissan’s values and is the right person to lead our recovery.”
【18:35】 Uchida: Resigned Due to Employee Trust Issues
In his speech, Uchida reflected on his decision:
"I have been unable to gain the trust of my employees, so I have chosen to step down. I hope Espinosa can bring out the full potential of Nissan’s team and steer the company back to growth. I truly believe in Nissan’s ability to recover.”
【18:38】 Espinosa: Ready to Lead
Espinosa shared his excitement:
"My experience in multiple markets has deepened my passion for Japanese manufacturing. I’m looking forward to the challenges ahead."
【18:41】 No Comment on Honda Merger Talks
When asked whether he would restart merger negotiations with Honda, Espinosa responded, "I can't comment on that at this time. My focus is on strengthening Nissan’s business and working with our team.”
【18:45】 Kimura: New Leadership Will Drive Change
Kimura reaffirmed the decision, saying, “After careful consideration, we believe Espinosa is the right leader to guide Nissan through this difficult period.”
【18:48】 Espinosa: Strengthening the U.S. Market and Expanding in China
Looking ahead, Espinosa announced plans to expand Nissan’s U.S. product lineup and deepen cooperation with China’s Dongfeng Motor Group. He hinted at upcoming new models, stating, “We’ve already made significant progress.”
【18:50】 Uchida: Espinosa Has Stronger Technical Expertise
Uchida praised his successor:
"Espinosa has a deeper technical background than I do. I believe he can better showcase Nissan’s strengths and bring innovative products to the market."
【18:51】 Press Conference Ends
The three executives bowed in gratitude, officially concluding the 20-minute press conference.
Uchida on His Resignation
During the conference, Uchida further explained his decision:
"I reached a point where I could no longer gain the trust of some employees. For Nissan to move forward, I believe stepping down is the best choice."
Espinosa’s Vision for Nissan
Espinosa expressed confidence in Nissan’s potential:
"Nissan has a strong foundation and untapped possibilities. I’m committed to unlocking its full potential.”
Who is Ivan Espinosa?
Born in Mexico, Espinosa began his career in automotive market research before joining Nissan in 2003. Since 2006, he has worked in new model development and market research, gaining extensive international experience in Southeast Asia, Mexico, and other regions. In 2024, he was appointed as the head of Nissan’s new vehicle strategy.
The Challenges Nissan Faces
Nissan is struggling with serious financial difficulties. The company is projected to report a net loss of 80 billion yen for the fiscal year ending March 2025.
To address overcapacity issues, Nissan announced in November 2024 a 20% reduction in production capacity, primarily affecting overseas plants. This decision also includes 9,000 layoffs. Under Espinosa’s leadership, Nissan must develop a new strategy to restore profitability.
Restructuring and Potential Partnerships
Failed Honda Merger Talks
In December 2024, Nissan and Honda entered discussions on business integration, aiming to operate under a joint holding company. However, Nissan opposed becoming a Honda subsidiary, leading to the negotiations’ collapse in February 2025.
Despite this, some Nissan board members and major financial partners still support a merger. The new leadership may revisit discussions with Honda.
Potential Collaboration with Foxconn
Taiwan’s Hon Hai Precision Industry (Foxconn), a major player in the electric vehicle (EV) industry, has expressed interest in working with Nissan. This partnership could play a crucial role in Nissan’s EV expansion.
The Changing Global Automotive Landscape
The global auto industry is rapidly evolving, driven by emerging companies in the U.S. and China. Nissan once stood among the world’s leading automakers, alongside Toyota and Volkswagen, thanks to its alliance with Renault and Mitsubishi.
However, Nissan is now struggling to compete independently. Industry restructuring has become inevitable as the company seeks a sustainable future.
Espinosa's career history
·2001: Graduated from Monterrey Institute of Technology.
·Early experience: Worked in automotive market research companies such as JATO Dynamics.
·2003: Joined Nissan Mexico.
·2018: Promoted to executive executive director of Nissan.
·2024: Serves as Nissan's chief strategy Officer (CPO).
·2025: Officially take over as president of Nissan.
(Comprehensive Nikkei News)
Adrian is an Editor. Psychology graduate with over 4 years in the automotive industry, 3 in front of the camera. Occasionally seen at his family owned tyre shop. He will only buy cars that pass the big bottle test.
