Nissan Friday: Ghosn Ain't Going
Then, finally, a reporter asks Ghosn when he intends to pack up and leave. Of course, this is Japan, and the question is asked in a circuitous way. The reporter argues that Nissan now makes solid profits, hence Ghosn could perhaps put the company into the hands of someone else, such allowing Ghosn to focus fully on Renault, which needs all the help it can get. This suggestion earns the reporter a likewise polite rebuke. Ghosn thanks him “for taking care of my own organization.” Pierced by Ghosn’s trademark laser eyes, the reporter deflates into his seat.
The meme that gaijin has done his duty, the gaijin can go back to Paris, is nothing new. The Nikkei tried it two years ago, which earned the wire a robust reprimand. A year later, Bloomberg tried it, and was likewise rebuffed. Now the matter degraded into a question on the mind of freelance journalist Inoue-san. Ghosn tells him, and the room, that he’s not going anywhere – unless he’s told by the people who really have the say at Nissan.
“I serve the shareholders. As long as the shareholders of Nissan want me to continue to be the CEO of Nissan, I will continue to be the CEO of Nissan. As long as the shareholders of Renault want me to continue to be the CEO of Renault, I will continue to be the CEO of Renault. The day the shareholders say: ‘Stop, we want someone only dedicated to us,’ then it will be different. If the shareholders are happy, you continue. If the shareholders are not happy, you stop.”
Ghosn’s contract at Nissan was extended on April 1, 2013.
And this concludes our Nissan Friday. Have a nice weekend.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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When couple of weeks ago I walked past Nissan Headquarters in Yokohama (you know that passage over Nissan show room when you walk from Sky to Minato Mirai) there was some kind of show - loud drumming and shouting. I did not know what to think about it when it finally sunk in to me that it is a protest - one of the slogans was conveniently written in English. It said something like "stop Nissan restructuring" comparing it with criminal act and bloody murder. Japanese normally hide their feelings but those people who probably were laid off Nissan workers looked very unhappy with cruelty of the Western style management.
Yup ghosh is amazing. 3.4 billion in profit for 2012, a year with dramatic sales increases compared to a tsunami affected 2011, plus a very favorable yen exchange rates and massive subsidies in Japan that goosed sales. Honda is even more amazing since they made 3.7 billion dollars for 2012. Honda's profits which are 75% more than 2011 are less than half of Ford's and Ford does not sell 15 million motorcycles and countless generators and lawn movers a year. Let's call for Ackerson's head even though GM is 20% more profitable than Honda. Honda doesn't have to deal with its own country men wishing for its failure nor does it have a huge presence in Europe to be affected by the recession there.