The CEO of the Japanese automaker Nissan, Makoto Uchida, announced his resignation after the company reported dismal financial results. In response, Nissan appointed Mexican Iván Espinosa as the new CEO and president on Tuesday, March 11, a leadership change at a critical time for the Japanese manufacturer, which is going through a delicate financial situation and is also facing the harsh blow of new tariffs imposed by Donald Trump on the automotive sector.
His main challenge will be to return to profitability the third largest Japanese vehicle manufacturer, dethroned from second place by Honda two years ago, and embroiled in a broad restructuring process that will lead to the closure of several plants and the layoff of 9,000 workers worldwide.
His predecessor, Makoto Uchida, who will head Nissan until the end of the month, has been caught up in the perfect storm created by the rising costs that Japanese manufacturers suffer due to global inflation of raw materials and the weakness of the yen, fierce competition from Chinese manufacturers, and the inability to adapt to a market undergoing rapid changes.
Iván Espinosa holds a degree in Mechanical Engineering and Business Administration from the Tecnológico y de Estudios Superiores de Monterrey (ITESM). He joined Nissan in 2003 as a product specialist in the Mexican branch of the Japanese conglomerate. He has held various positions in Mexico and abroad, developing successful product and marketing strategies, in addition to having participated in the company's restructuring.
The board of directors of Nissan has particularly valued his experience in other key markets for the firm and, in particular, the Mexican market, as well as his involvement in the company's restructuring plan. Analysts indicate that his profile and international background have weighed in on his selection to deal with the tariff measures proposed by the U.S. president.
Espinosa is also the first foreign CEO and president of Nissan since the departure of Carlos Ghosn in 2018 due to the financial irregularities for which he would be detained. Now, he faces the task of leading the company at a crucial moment, marked by financial and commercial challenges, including the uncertainty caused by the proposed tariffs by the U.S. government.
