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Meanwhile, Nissan’s existing leadership, particularly Hiroto Saikawa, faced their own scandals, leading to resignations and leadership instability. In October 2019, Nissan appointed Makoto Uchida as CEO amid mounting financial woes.
Nissan’s Struggles Under Uchida
Uchida inherited a battered company suffering from shrinking market shares, delinquencies, and a battered reputation. COVID-19 compounded Nissan’s woes, plunging revenues by over 50% and plunging into deep losses. Uchida launched "Nissan NEXT," a strategic plan focusing on core competencies: reducing production capacity by 20%, trimming product lines by 15%, and ramping up electric vehicles (EVs).