The automotive manufacturer Nissan has appointed the Mexican Iván Espinosa as the new President and CEO on Tuesday at a board meeting where the termination of the Japanese Makoto Uchida was decided at the end of March, according to a company statement.
Espinosa, who until now has served as the head of product planning, will succeed Uchida starting April 1, the beginning of the new fiscal year for the manufacturer. The company is facing financial difficulties due to declining sales in key markets such as the United States and China.
In a board meeting held today, Nissan addressed the details of its restructuring plan, which involves a global production cut of 20% and the reduction of 9,000 jobs, as well as accountability for the deterioration of the company's performance and the failed merger with Honda.
The new President has an extensive executive background within the company. Nissan is expected to close the current fiscal year with net losses of 80 billion yen (about 498 million euros), a result that management attributes to Uchida's leadership.
Iván Espinosa holds a degree in Mechanical Engineering and Business Administration from the Monterrey Institute of Technology and Higher Education. He joined Nissan in 2003 as a product specialist in the Mexican division, eventually holding various positions in product planning over the years.
Promoted to Vice President of Product Planning for Nissan Europe in 2014, he took on the role of Director of Product Planning at the Japan headquarters in 2024.
The challenges Nissan faces are considerable, but Iván Espinosa's global experience and passion for the company and the automotive industry are expected to aid him in his management as the new CEO.
