Nissan Motor Co. has announced that CEO Hiroto Saikawa will step down next Monday, which will likely add another layer of dark clouds over the viability of the Yokohama-based automaker already mired in low profits, waning trust in corporate governance and a shaky alliance with French Renault SA.
According to Nissan directors who briefed reporters after a board meeting Monday, the board asked Saikawa to resign and he agreed.
The company will officially name a new CEO by the end of October while Yasuhiro Yamauchi, current chief operating officer, will hold the CEO role until then.