Ivan Espinosa’s first annual meeting as Nissan’s chief executive officer was a baptism by fire, as shareholders questioned the feasibility of his turnaround plan and the carmaker’s failed tie-up with Honda.
For roughly three hours, investors grilled Espinosa about decisions mostly made before he was promoted in April, airing their grievances and rehashing the myriad missteps that led to the elimination of 20,000 jobs and closure of seven of its 17 manufacturing sites, after the company posted a net loss of ¥671 billion ($4.6 billion) in the fiscal year that ended in March.
"We understand your frustration,” Espinosa told stakeholders at its headquarters in Yokohama on Tuesday. "It will not be easy to deliver. But I am confident that we have what we need to rebuild our company.”
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.