Indian origin Nissan COO who led turnaround after Carlos Ghosn is stepping down

  • Ashwani Gupta had taken charge as Nissan COO in December of 2019.
File photo of Nissan COO Ashwani Gupta. (Bloomberg)
File photo of Nissan COO Ashwani Gupta.

Nissan Motor Co. said Friday its Chief Operating Officer Ashwani Gupta will step down from his position effective June 27, when his term on the board ends at the Japanese carmaker’s annual meeting of shareholders.

The announcement comes after Nissan said last month that Gupta, who took charge as COO in December 2019, will not be reappointed to its board. Nissan fell short of giving details on Gupta’s departure except stating that he will leave to pursue other opportunities.

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Calling Gupta’s departure a result of internal clash, the Financial Times reported this week that he agreed to step down after Motoo Nagai, an outside director who heads Nissan’s audit committee, presented him with multiple internal complaints, one of which was almost a year old.

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Nissan embarked on a plan in 2020 to cut about ¥300 billion ($2.1 billion) in costs, boost profits on each vehicle sold in the US and release new models to pull out of a slump after the 2018 arrest of former Chairman Carlos Ghosn. Gupta and Chief Executive Officer Makoto Uchida steered the carmaker back to operating profitability for the 2021-2022 fiscal year and revamped the company’s two-decade alliance with Renault SA, its biggest shareholder.

The new executive lineup is scheduled to be announced on June 27, the Yokohama-based company said in the statement.

First Published Date: 16 Jun 2023, 08:15 AM IST

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