TU-TESL

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Makoto Uchida, the new CEO of auto, said in an internal email Friday that his task is to restore business performance, regain Nissan's trust and prepare to use all his experience to turn the company around, including repairing alliance partnerships, Reuters reported. Mr. Uchida currently serves as a member of Nissan's Executive Committee, senior vice president, chairman of Nissan's China Management Committee and President of the company. On October 8, Nissan's board of directors announced the latest senior personnel appointment, upgrading Mr. Uchida to CEO of Nissan. In addition, Ashwani Gupta, the chief operating officer, was appointed by Nissan's board of directors, while Jun Seki, Nissan's senior vice president, was appointed as Nissan's deputy chief operating officer. The appointment will take effect on January 1, 2020 at the latest. One of the reasons Nissan's board of directors chose Mr. Uchida as its CEO is that it hopes to resume its deteriorating alliance with Renault as soon as possible. Mr. Uchida joined Nissan in 2003 and has worked in the purchasing department of Nissan Motor Company and Renault Nissan Mitsubishi Alliance for many years. It can be seen that he has the background to reconcile the relationship between the two sides. In addition, improving Nissan's performance is the most urgent task for Mr. Uchida. In November 2018, the former chairman of Nissan, Mr. Ghosn, was taken away by the special search Department of Tokyo local procuratorate for suspected violation of the financial commodity trading law; in September this year, the former CEO of Nissan, Hirohito Nishikawa, stepped down after a brief period of power, and the high-level turmoil caused Nissan to fall into the plight of declining performance. In fiscal year 2018, Nissan's revenue was 11.57 trillion yen, down 3.2% year on year; its operating profit was 318.2 billion yen, down 44.6% year on year. In the first quarter of fy2019, Nissan's business volume was about 2.37 trillion yen, down 12.7% year-on-year; its operating profit was 1.6 billion yen, down 98.5% year-on-year. In July this year, Nissan said it would cut 125 thousand jobs worldwide, 10% of its production capacity and product lines; the job cuts would be completed by March 2023, accounting for about 10% of Nissan's global employees. Whether these measures can bring Nissan back to the track of rapid development, we will continue to pay attention to.