Nissan Motors on Tuesday announced the appointment of a new chief executive to lead the embattled Japanese automaker as it tries to recover from deteriorating profits and crumbling leadership.
The new chief, Makoto Uchida, has worked at the company since 2003 and was named to lead its China operations last year. China is considered a key market for Nissan.
Mr. Uchida, 53, takes the reins of a company facing its biggest challenges in nearly two decades. In less than a year since Carlos Ghosn was ousted as chairman on charges of financial misconduct, Nissan’s profits have plunged, its sales have dropped and its leadership has eroded. Last month, its chief executive, Hiroto Saikawa, resigned over pay issues. The chaos has led to an exodus of top employees, and the company is cutting 12,500 jobs worldwide.
“We expect Mr. Uchida to lead the company as a team, immediately focus on the recovery of the business and revitalize the company to make a new Nissan,” Nissan’s chairman, Yasushi Kimura, told reporters.
