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Nissan CEO Seki to resign in blow to turnaround plan

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Nissan CEO Seki to resign in blow to turnaround plan

The executive tasked with leading a recovery at Nissan Motor Co Ltd (7201.T) said he had decided to resign just weeks into his new job, a move that could disrupt the automaker’s push to turn the corner on scandal and slumping sales.

Axar.az reports citing Reuters that Jun Seki, Nissan’s vice chief operating officer and a former contender for chief executive, told Reuters he was leaving to become the president of Nidec Corp (6594.T), a Kyoto-based manufacturer of automotive components and precision motors.

He will likely depart in January after three decades at Nissan, including a stint heading its China business.

“I love Nissan and I feel bad about leaving the turnaround work unfinished, but I am 58 years old, and this is an offer I could not refuse. It’s probably my last chance to lead a company too,” he said in a brief interview.

“It’s not about money. In fact, I will take a financial hit since Nissan pays us well,” Seki said. He declined to elaborate further.

Nissan and Nidec declined to comment.

Date
2019.12.24 / 15:42
Author
Axar.az
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