Carlos Ghosn’s Protege To Step Down As Nissan CEO

The Renault-Nissan-Mitsubishi Alliance is getting two new chief executives after Nissan CEO Hiroto Saikawa announced that he will leave his post at Nissan just a day after Carlos Ghosn did the same at Renault.

Bloomberg reports that Saikawa will hand over the reins at Nissan in coming months after he reforms the governance behind the car manufacturer.

Saikawa was a former protege of Ghosn but the Japanese chief executive was pivotal in ousting Ghosn as Nissan chairman when allegations of his financial misdeeds came to light.

Nissan’s quick firing of Ghosn sparked fierce opposition from Renault who for more than two months, kept Ghosn in charge despite his Japanese imprisonment. Some have speculated that Ghosn was the victim of a coup by Saikawa to consolidate his power with the automaker.

It remains to be seen why exactly Saikawa is preparing to step aside but analysts say it could help to mend the fractured relationship between Renault and Nissan.

Renault recently confirmed that Michelin chief executive Jean-Dominique Senard will take over as its chairman. Senard’s appointment has been backed by France which just so happens to be the most powerful Renault shareholder. Senard will also join Nissan’s board and is charged with proposing changes to the alliance’s structure.

It is hoped that Senard will help to fix the carnage left behind by Ghosn and Saikawa.

“Hopefully he takes his time to speak with a wide range of people before setting a strategy,” Macquarie Group analyst Janet Lewis said.

“He needs to gain trust with the leadership of both Nissan and Renault, and needs to ensure he is not being viewed as a mouthpiece for the French government.”