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Why did Nissan lose so much money in one year?
The continuing losses were resulting in debts (approximately $22 billion) that were shaking the confidence of suppliers and financiers alike. Furthermore, the Nissan brand was weakening in the minds of consumers due to a product portfolio that consisted of models far older than competitors.
Who is the CEO of Nissan Motor Company?
The Nissan CEO would continue to be selected by the Nissan Board of Directors c. Nissan would take the principal responsibility of implementing a revival plan. Hanawa made the request to Louis Schweitzer, CEO of Renault, to send Carlos Ghosn to Nissan to be in charge of all internal administration and operations activities.
Why did Nissan bring in Ghosn as CEO?
Many of the industry analysts expected a culture clash between the French leadership style and his new Japanese employees. Analysts said, because the financial situation at Nissan had become critical so the decision to bring Ghosn in came at the worst possible time.
What was the problem with the Nissan brand?
Furthermore, the Nissan brand was weakening in the minds of consumers due to a product portfolio that consisted of models far older than competitors. In fact, only four of the company’s 43 models turned a profit.
Last Update: Oct 2021
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