Nissan names Mexican Ivan Espinosa as new CEO

Makoto Uchida will step down after five unsteady years of leading the Japanese automaker and his recently failed merger with Honda.

Japanese automaker Nissan changes CEOAFP

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Diane Hernandez

March 11, 2025

2 minutes read

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Japanese automaker Nissan, which is facing serious financial problems, announced Tuesday the departure of its CEO, Makoto Uchida, who will be replaced by the group's current chief planning officer and Mexican native, Ivan Espinosa.

The news comes to light shortly after Nissan called off merger talks with its more financially stable rival, Honda. The Japanese company, which has implemented massive staff and capacity cuts, is now seeking a potential new partner, according to a statement from Nissan.

Espinosa takes on the task of pushing forward a slow recovery plan initiated by outgoing boss Uchida, who will step down after five unsteady years at the helm, leading the Japanese automaker into the post- Carlos Ghosn era. The Mexican will assume office as of April 1.

In addition to appointing the Latin American as new president and CEO, Nissan is also restructuring its technology, manufacturing and supply chain management departments, among other positions.

Makoto Uchida (L), president and CEO of Japanese auto maker Nissan, shakes hands with Toshihiro Mibe (R), director, president and representative executive officer of auto maker Honda, following a press conference in Tokyo on August 1, 2024. - Japanese car manufacturers Honda, Nissan and Mitsubishi Motors have signed a memorandum of understanding concerning a strategic partnership in the electric sector in the face of their common challenges in this area, the three groups announced on August 1. (Photo by Richard A. Brooks / AFP)

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Japanese auto giants Honda and Nissan confirmed last February the end of their merger talks, announced in December. In a joint statement, the two companies said "it would be more appropriate to cease discussions and terminate the memorandum of understanding" signed at the end of 2024.

The union would have created the world's third-largest vehicle maker, and aspired to catch up with electric car giants such as U.S.-based Tesla and Chinese companies.

Honda management insisted in December 2024 that it was not a financial rescue for Nissan, which last year announced thousands of job cuts after a 93% drop in its first-half profit.

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