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Thursday, 28 March 2024

Nissan CEO: Fire me if there's no turnaround

Duration: 01:26s 0 shares 1 views

Nissan CEO: Fire me if there's no turnaround
Nissan CEO: Fire me if there's no turnaround

Nissan CEO Makoto Uchida says he's happy to be fired by shareholders if there's no sign of a turnaround at the Japanese automaker.

Julian Satterthwaite reports

Nissan's new chief executive met shareholders Tuesday (February 18).

And he probably didn't enjoy it much.

After a slump in sales Makoto Uchida felt compelled to put his neck on the line: (SOUNDBITE) (Japanese) NISSAN MOTOR CEO, MAKOTO UCHIDA, SAYING: "We will make sure that we steer the company in an effective way so that it is visible to our shareholders.

I will commit to this.

If you can't see this, please fire me immediately." Uchida is Nissan's third CEO since September.

On Tuesday he had to endure heckling by restive shareholders.

They've grown unhappy as the company's stock slid to decade lows.

Nissan has faced months of turmoil following the ousting of former boss Carlos Ghosn.

Last week it revealed a big drop in sales and posted its first quarterly loss in nearly ten years.

Now the boss has a big job on his hands.

(SOUNDBITE) (Japanese) NISSAN MOTOR CEO, MAKOTO UCHIDA, SAYING: "Regarding the brand image of Nissan, if you can give us more time.

I will continue with management and make sure you can sense we are changing on a day to day basis." Uchida didn't give any timeframe for a turnaround.

But he will have to prove to the board that he can accelerate cost-cutting and rebuild profits.

Also on the agenda: repairing the firm's partnership with France's Renault.

Shareholders will know what to do if he doesn't deliver.

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