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Nissan's new steering approved despite criticism

2020-02-18T07:59:54.806Z

The shareholders of the manufacturer Nissan validated, Tuesday, the entry into office of Makoto Uchida and the appointment of new directors, at an extraordinary meeting at the headquarters of Yokohama, in Ja…



Nissan has definitely turned the page on Carlos Ghosn. The automaker's new management was approved on Tuesday, February 18, by a vote of an extraordinary general meeting of shareholders at the group's headquarters in Yokohama, a suburb of Tokyo (Japan).

At the end of a long session broadcast on the Japanese group's website, the shareholders validated the appointment of the four members of the management led by the new CEO Makoto Uchida. He had been appointed after Hiroto Saikawa's shattering departure in September, overtaken by a case of bonuses collected in excess of the time when Carlos Ghosn was in command.

Exasperated shareholders

While the automaker further lowered its forecast for 2019-2020 last week, faced with a sharper-than-expected drop in third-quarter sales, Uchida received a flurry of shareholder criticism during the meeting .

"I have been a Nissan shareholder for almost 20 years. You must review everything you do. I have 3,000 Nissan shares. Uchida, you have 2,000. I have more than you!" one of them. "I bought them 800 yen (6.70 euros). I never thought they would fall below 700 yen, they are less than 500 yen (4.20 euros) now. What do you think ? Should I sell them? "

"Shareholders, give us time. I appreciate your patience (...) I want Nissan to improve. All the management, including me, take the situation very seriously and work on it," replied Mr. Uchida. , arrived at the controls on December 1st.

Vehicle sales down

In the third quarter, its net profit slipped into the red to the tune of 26.1 billion yen (-218.4 million euros), against a gain of 70.4 billion (590 million euros) of yen a year earlier.

The automaker lowered its forecast for annual operating profit by 43% last week due to declining vehicle sales, adding further pressure to the new management of a group still recovering after the ouster of Carlos Ghosn.

By announcing its results Thursday, the manufacturer has given up paying a dividend at the end of its annual exercise, after a meager interim dividend of 10 yen per share. Nissan action was down 1.71% to 494.20 yen Tuesday after the meeting, around 5:20 am Tuesday, for a star index Nikkei down 1.53%.

With AFP and Reuters

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Source: france24

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