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Nissan names Makoto Uchida as next CEO

TOKYO — Nissan named Makoto Uchida, the head of its Chinese business, as its next CEO, picking an executive known for close ties to top shareholder Renault and for a frank, straight-talking manner that has marked him as an outsider. By selecting Senior Vice President Uchida, Nissan's board has gone with someone slightly at odds with its traditional corporate culture. He joined the carmaker mid-career in 2003, a rarity in a country where top executives usually spend their entire working lives at the same company. Known for his unflagging work ethic and relentless focus on cost control, Uchida was described by one long-time associate who spoke on condition of anonymity as a "foreigner with a Japanese face" — direct and to the point in conversations. He will be joined by newly appointed Chief Operating Officer (COO) Ashwani Gupta, currently COO of junior partner Mitsubishi Motors, in trying to find new ways to revive a business that has been struggling for months with plunging profits, management scandal and tensions with Renault. Japan's second-largest automaker has been shaken in particular by the arrest of former Chairman Carlos Ghosn last year on allegations of financial misconduct, which he denies, and the more recent departure of CEO Hiroto Saikawa after he admitted to being improperly overpaid. Whether the 58-year-old former theology student can deliver a miracle turnaround — particularly at Nissan's business in the United States — and repair ties with Renault will now be a focus for investors. "The biggest business challenge for Nissan is speeding up," the head of Nissan's nominations committee, Masakazu Toyoda, told a news conference. "Speedy decision making is a challenge that Uchida raised, and to this end he said that he wants to empower people as much as possible, so we decided to ask Uchida to take on the CEO role." One source close to Renault described the selection as "a victory for the alliance", saying that both Uchida and Gupta knew the business and were ready to help Nissan recover. 'ISN'T REALLY JAPANESE' Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan, but had met resistance in Japan, which is concerned about French influence in the alliance. The French government is a major Renault shareholder. Relations were further strained this year when Renault held abortive merger talks with Fiat Chrysler Automobiles.

Nissan testing experimental dealer with no desks or offices

Nissan thinks it has found a better way to sell cars, and it involves stripping showrooms of everything but the cars and sales team. The brand calls the experiment the Nissan New Retail Concept, and it might get tested in the US in a few years.
The concept is relatively simple. Showrooms ditch offices, reception counters, cubicles and desks. Instead salespeople walk around inside and outside the dealer with mobile devices to assist customers and even complete sales. Associates are trained to take immediate responsibility for each visitor they encounter. For example, if owners comes inside with a problem with their vehicle, the employee escorts them to the service department and introduces them.
A dealer in London has been testing the new layout for the last nine months, and so far it reports better customer satisfaction, loyalty and most importantly higher sales. Nissan next plans to launch test stores in Moscow and Stuttgart. Then it will broaden out to more of Western Europe and finally will be tested in the Japan, the US and the Middle East, according to Automotive News.

Renault will split EV from combustion unit, seeks partnerships

PARIS — Renault has received several partnership proposals for the combustion engine unit it plans to create alongside one dedicated to electric vehicles and software, two sources familiar with the matter said. Renault plans to separate its electric and conventional car businesses, creating two entities to manage the shift towards fossil-free vehicles. "The group has already received partnership demands" for its internal combustion engine unit, one of the sources said. By bringing in partners on the combustion engine side Renault aims to free up funds to invest in electric vehicles, a technology in which it was a pioneer with Nissan and Mitsubishi, but in which it is now eclipsed by pure players such as Tesla. Renault intends to retain majority ownership of its electric division, which will employ about 10,000 people and which could be bourse-listed via an IPO in the second half of 2023. However, it will only remain a reference shareholder, not a controlling shareholder, of the combustion engine unit, which will have similar staff levels, said two other sources familiar with the plans. One of the sources said Renault may hang on to a 40% stake. Renault declined to comment. The carmaker at a capital market day this autumn will set out its plans for its electric arm based in France and the combustion unit headquartered abroad. That entity will include factories producing engines and gear boxes for gasoline and hybrid cars in Spain, Portugal, Turkey, Romania and Latin America. Among potential partners for its combustion engine business, CEO Luca de Meo in April mentioned Nissan, other automotive groups and long-term investors. De Meo is set to travel to Japan next month to discuss potential Japanese participation in its electric and combustion engine projects. Renault is undergoing a major restructuring aimed at restoring its finances and recently signed partnerships beyond its historical alliances with Nissan, Mitsubishi and Mercedes, such as with China's Geely Automobile Holdings. This month it sold 34% of its South Korean unit to Geely, which owns Volvo Cars and is a shareholder in Mercedes. With Geely, Renault plans to develop hybrid vehicles which will be assembled in its plant in Busan, South Korea. Earnings/Financials Green Mitsubishi Nissan Renault