Nissan’s new CEO committed to restoring business performance

MANILA: The new Chief Executive Officer of Nissan Motor Corporation Limited Ivan Espinosa, professed a strong commitment to restoring the company’s business performance. 

The aforementioned, as shared by Nissan, was discussed during Espinosa’s first-ever appearance as company head at the car brand’s  “126th Ordinary General Meeting of Shareholders.” The aforementioned was held in the company’s global headquarters on June 24 and was attended by a total of 1,071 shareholders. 

Additionally, the shareholders made amendments to the company’s Articles of Incorporation. They also elected 12 new directors to replace those with expiring terms. Other than the aforementioned, the said meeting likewise discussed the following topics:  

• Partnerships and supplier collaboration
• New business development
• Governance enhancement
• Product and sales strategy in Japan and the United States
• Talent strategy including new hiring
• Corporate sports activities
• Executive retirement compensation
• Responsibilities of outside directors

Other than the aforementioned, no other details of the meeting were disclosed by the Yokohama-headquartered company. 

Nissan’s recent challenges

In the context of the above, Espino’s first-ever general meeting with Nissan shareholders is a crucial step in its plans to recover from its recent financial woes. 

For the unaware, the brand is looking to enact the “Re:Nissan” initiative, which is expected to save a total of 500 billion yen (approximately P189 billion) compared to its expenditures during the fiscal year 2024. The aforementioned comes after the Nissan and Honda Motor Company business integration plan was halted. 

As previously reported by Zigwheels Philippines, the Japanese automaker has already revealed its plan to “rightsize” its manufacturing operations in Thailand and the US. The Renault group has also gained full ownership of the Magnite-producing Renault Nissan Automotive India Private Limited (RNAIPL) in Chennai, India. 

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