Ivan Espinosa, who took over as president and CEO of Nissan Motor Co. April 1, is among four nominees its shareholders will consider for board director posts during its annual meeting in June, the automaker announced April 17.
Two of the recommended appointees would take over the board positions of former President and CEO Makoto Uchida, and former Chief Monozukuri Officer and executive officer, Hiedyuki Sakamato, who were removed from their roles last month as part of a leadership shake up at the automaker. Those actions followed a wave of management missteps that led to falling profits and a failed merger with Honda Motor Co.
Nissan said director and current vice chair Jean-Dominique Senard, is retiring from its board. He has served in the post since April 2019 and also serves as chairman of Renault S.A’s board. Also stepping down is Pierre Fleuriot, lead independent director for Renault S.A. and member of Nissan’s board since February 2020.
Other nominees include CTO Eiichi Akashi; Valerie Landon, independent board member of France-based automotive supplier Forvia; and Timothy Ryan, former CEO for asset wealth and management at Natixis.
Improving financial performance is a priority for Nissan, which is working to boost profitability.
Nissan’s new leaders must navigate uncertainty, fueled by a wave of tariffs announced by the Trump administration. The move has pressured automakers to reconsider supply chains and global production to mitigate the impact of higher import duties on goods entering the U.S.
Nissan on April 3 announced it was reversing a plan to scale back production of its Rogue SUV at its plant in Smyrna, Tennessee. The automaker in January revealed plans to reduce production in Tennessee from two lines to one but will instead maintain both, “keeping more localized volume in the U.S. that is free of the new auto tariffs,” Brian Brockman, a spokesman for Nissan, said in an email to Automotive Dive.
