Nissan CEO Resigning

Nissan logo

CBJ — In the wake of unrelenting pressure Nissan CEO Hiroto Saikawa will resign his position on September 16.

Saikawa has faced intense criticism after admitting that he was being improperly overpaid. This latest public relations black eye comes in the wake of the company’s battered reputation relating to various scandals and plunging profit.

Chief Operating Officer Yasuhiro Yamauchi will take over the CEO’s position on a temporary basis while the search begins for a permanent replacement.

Previously the company had to deal with the very public ouster and arrest of former chairman Carlos Ghosn late last year.

Also of concern to Nissan is a decaying relationship with Renault — the main shareholder in Nissan.

The company hopes to have a new CEO in place no later than the end of next month.