US EditionNissan Shareholders Assail Management over Deepening Crisis
- Nissan Motor held its annual shareholder meeting in Yokohama on June 24, facing sharp criticism over deepening financial and operational crises.
- The criticism followed Nissan's $4.5 billion net loss in fiscal 2024, poor sales in the US and China, and an ongoing 36% share decline, while merger talks with Honda had recently collapsed.
- Ivan Espinosa, who assumed the role of CEO in April, confirmed plans for restructuring that involve shutting down seven manufacturing plants and eliminating approximately 20,000 jobs, equating to about 15% of Nissan's workforce, as shareholders expressed frustration over what they saw as management avoiding accountability.
- An activist shareholder, Strategic Capital, owning 3.5% of Nissan Shatai, urged governance reforms including annual reviews of Nissan's relationship with subsidiaries, but the board opposed such changes, fearing reduced operational flexibility.
- Shareholders called for leadership overhaul to restore trust amid suspended dividends and projected further losses, while it remains uncertain if Espinosa can reverse Nissan's sharp decline by fiscal 2026.
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Nissan shareholders assail management over deepening crisis | The Asahi Shimbun Asia & Japan Watch
Nissan Motor shareholders vented their frustrations over the automaker's poor performance at its annual general meeting on Tuesday, with some demanding greater management accountability for the deepening crisis at Japan's third-largest car company.
Nissan sees ¥200 bil net loss in April-June; shareholders grill management
Nissan Motor Co on Tuesday said it forecasts a net loss of 200 billion yen for the April-June quarter and apologized for the worsening performance as it faced criticism from shareholders at their annual meeting. New President and CEO Ivan Espinosa, who took over from Makoto Uchida in April, vowed…
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Investing.comNissan shareholders assail management over deepening crisis
Nissan Motor shareholders vented their frustrations over the carmaker's poor performance at its annual general meeting on Tuesday, with some demanding greater management accountability for the deepening crisis at Japan's third-largest car company.
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