Carlos Ghosn, the man who turned around Nissan, is stepping down as its CEO from April 1, 2017, with co-CEO Hiroto Saikawa taking over.
Ghosn isn’t leaving the company entirely, he’ll remain as Nissan’s chairman, and will continue to be Renault’s CEO and Mitsubishi’s CEO.
Renault and Nissan own significant shares in each other, and as part of the Renault-Nissan Alliance work together on models and platforms. Mitsubishi Motors is 33 percent owned by Nissan, after a fuel economy rating cheating scandal saw its sales and share price drop in 2016.
Ghosn says that he will now concentrate on turning around Mitsubishi Motors, which faced with tough competition and high development costs has narrowed its range to focus on crossovers and cheap small cars for Asia.
