Nissan's CEO Explains Recovery Plan to Angry Investors

Nissan CEO Makoto Uchida attempted to smooth things over with investors last week by going over his company’s new recovery plan in great detail. As you undoubtedly know by now, the automaker found itself in a less than blissful situation following an ugly internal power struggle that highlighted corporate corruption and a business strategy that seemed like a liability without ideal economic circumstances and the man who penned it running the show.

With its share price already suppressed by worsening sales performance and assumed “management issues” with alliance partner Renault, the internal scandal kicked off by the arrest of former chairman Carlos Ghosn November 2018 is what really sent Nissan’s stock into a tailspin. Shares have lost more than half their value since the incident.

This placed Uchida in the undesirable position of having to explain what went wrong and how to fix it. In the past, Uchida said he’d happily be fired if he can’t turn things around, though that’s usually what happens to CEOs who can’t deliver (or need to be scapegoated and sacrificed on the alter of commerce by their board). Based on comments made at the company’s most recent shareholder meeting, Uchida seems to understand how things work.

“I said, ‘If Nissan’s performance does not improve, please fire me. Please dismiss me,’ ” he reminded the crowd on June 29th. “That’s what I said. And this policy remains unchanged.”

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  • Jho65697139 That's going to take a lot of buffing.
  • Corey Lewis No need for unique qualifications to care for this thing, it's just a Corolla with a different body on it.
  • Jeff S How's you Fiat doing?
  • Syke Had the exact same car, only difference is that the trim was the JDM bB rather than the American xB. Enjoyed the car immensely, originally bought it because it was excellent for transporting my then-invalid wife and her wheelchair around. Best thing about it? I also owned a Porsche 924S at the same time. I could go from the Porsche to the Scion and not feel disappointed by the difference in the way they drove.
  • Tassos I have never driven this loser, but I was driven for 4 hours in the smaller XA. I had to go from Ann Arbor to CInncinatti to buy my second E320 Bluetec, and a post-doc of mine offered to take me in his pitiful XA. Luck had it that the April 2017 day we drove down there was windy, and the tiny, very lightweight, sorry excuse of a vehicle frequently felt like the wind would take it and smash it . Those of you who have a clue, will easily imagine how different was my experience on the way back, driving the 4,000 lb E320 sleek sedan.