(MENAFN) Nissan Motor Co, Carlos Ghosn, said he will step aside as CEO after leading the firm for 16 years, allowing him to concentrate on deploying his cost-cutting expertise across its alliance with Renault SA and newly added Mitsubishi Motors Corp.
However, Ghosn will end years of speculation over when he would relinquish the top job at Japan's No. 2 automaker amid investor concerns that he was stretching himself too thin.
The change in leadership is aimed at making the best use of the greater scale that Mitsubishi brings to lower costs at a time when automakers are under Japan's No. 2 automaker concerned that he was stretching himself too thin.
Also, Ghosn was known as 'Le Cost Killer' from his earlier career at Renault, and he burnished his reputation by engineering Nissan's comeback from years of losses and debt.
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