Carlos Ghosn, the aggressive figurehead who brought a nosediving Nissan back from the brink, is stepping down as CEO after 16 years on the job.
The industry titan will remain CEO of Renault, where he staged a similar turnaround, and will continue to serve as chairman of Nissan, Renault and lowly Mitsubishi — the latter company being added to the alliance last year. Apparently, the decision to step down was prompted by Mitsubishi’s deeply-ingrained woes. In order to work some Nissan-style magic on the struggling automaker, Ghosn needed to hand over the reins.
Meanwhile, a man who stuck with Nissan for 40 years has seen his loyalty pay off. (Read More…)