Nissan Appoints Mexican Iván Espinosa as New CEO

Nissan announced on Tuesday that Iván Espinosa, its current Director of Planning, will take over as CEO starting April 1, ending weeks of speculation over who would succeed Makoto Uchida as the head of the Japanese automaker.

Uchida had faced pressure to step down following the worsening results of Japan's third-largest car manufacturer and the failure of merger talks with Honda.

It remains unclear whether Espinosa's appointment, at 46 years old, will reignite those merger discussions or open the door to investment from other potential partners.

Espinosa, a Mexican citizen who joined Nissan in 2003, has spent much of his career in Mexico, but has also held positions in Southeast Asia and Europe. He has overseen product planning and development initiatives, as well as managing the automaker's global product strategy and portfolio. He has held his current role since April 2024, as part of a reorganization aimed at accelerating the company's shift toward electric vehicles.

Nissan and Honda have canceled their merger talks.

“He's a man very passionate about the product,” said Christopher Richter, automotive analyst at brokerage and investment firm CLSA. “I think it's a good sign that Nissan wants to prioritize the product, because the Nissan brand has been adrift for a long time and doesn't represent much. Putting a strong product-focused leader in charge could be interesting.”

Nissan has been struggling for years with declining sales and tumultuous management, never fully recovering from the blow to its brand after the ousting of former president Carlos Ghosn in 2018, who was accused by Tokyo prosecutors of financial misconduct. During the current fiscal year, the company has lowered its profit forecast at least three times.

Like other traditional carmakers, Nissan is facing competition from Chinese electric vehicle manufacturers, who have revolutionized the sector with stylish, software-rich cars. But Nissan is also battling deeper challenges, such as its inability to launch hybrids in the United States and the lingering confusion following Ghosn's departure. Additionally, it faces potential tariffs on vehicles it exports to the U.S. from Mexico, a key manufacturing hub.