Carlos Ghosn is stepping down as CEO of Nissan, which he brought back from the brink and turned into a world automotive powerhouse.
Ghosn, who joined Nissan in 1999 from France’s Renault, became Nissan’s CEO two years later. He will retain his position as chairman, the company said in a statement. Hiroto Saikawa, who currently serves as co-CEO will become sole chief executive.
The changes are effective April 1. Under Ghosn, Nissan became the centerpiece of an automotive empire. He divided time running Nissan and France’s Renault. Recently the company also picked up Japan’s Mitsubishi.
Automotive News reports that Ghosn steps back to more of an oversight role over an expansive automotive empire. The acquisition of Mitsubishi catapulted the Alliance to the No. 4 spot in global auto sales behind Volkswagen, Toyota and General Motors, as Ghosn delivered on his promise to achieve scale.