Honda Motor Co. said it would be willing to restart takeover talks to create the world's fourth-largest automaker if Nissan Motor Co. President Makoto Uchida steps down. Uchida has said that ending Nissan's woes is his most pressing issue and that he would be willing to step aside once it is resolved.
Makoto Uchida, 58, has worked at Nissan for 22 years and has served as CEO since the end of 2019.
Recently, he issued a warning to investors that the company is expected to suffer a net loss of 80 billion yen in the current fiscal year ending in March. This figure is significantly different from the 380 billion yen net profit predicted nine months ago.
In this regard, Nissan's board of directors plans to discuss the departure of current CEO Makoto Uchida on March 11 and is looking for a successor.
Candidates currently listed by the nomination committee include Nissan Chief Financial Officer Jeremie Papin and Chief Planning Officer Ivan Espinosa.
The next CEO may be named interim or transitional leader to give the board more time to find a permanent replacement, sources said.