BusinessCompany NewsGhosn downshifts to Nissan finance role

Ghosn downshifts to Nissan finance role

Renault-Nissan's chief will spearhead financial activities at the embattled Japanese division of the carmaking group

Renault-Nissan’s
chief exec Carlos Ghosn has announced that he will be scaling back
his responsibilities to spark a turnaround at the Japanese division of the car
alliance. 

Ghosn will relinquish his role as head of Renault-Nissan’s North American
operations to become chair
of Nissan’s
treasury department.

The move comes after a major management reshuffle at the ailing company which
has been struggling in recent quarters.

Nissan issued a profits warning in February, expecting a fall in annual
profits for the first time since Renault seized a controlling interest in the
company eight years ago.  

Nissan has also disclosed its designs to cut production at two plants in
Japan next month in efforts to rebalance supply and demand.

Ghosn said: ‘The priority for our new managament team is to act decisively on
the multiple challenges facing Nissan and to boost our overall performance in
2007,’ The Times
reported.

Further reading:

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Economics: Inward bound

Corporate recovery: Rover and out 

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