Nissan Motor shareholders are concerned about the company’s poor performance, and at the annual general meeting held this Tuesday, they demanded greater accountability from management regarding the worsening crisis at Japan’s third-largest automaker.
The meeting was the first for the new CEO Ivan Espinosa, who replaced Makoto Uchida in April.
Since then, Espinosa has presented plans for a significant reduction in expenses, including the closure of seven factories and the elimination of a total of 20,000 jobs, about 15% of Nissan’s workforce.
However, the measures presented by Espinosa are far from convincing the shareholders, who, according to reports from “Reuters,” are pressuring the management of the Japanese company to take action regarding the subsidiary Nissan Shatai, which manufactures vehicles for Nissan.
It should be noted that recently the CEO of Nissan stated that the company’s cuts will involve reducing the stake it holds in the French Renault.
Nissan and Renault stated in March that they agreed to reduce the minimum stake required in each other from 15% to 10%. According to the agreement, any sale of shares must be coordinated with the other party and includes a right of first refusal.
Nissan is going through hard times, and after failing to merge with Honda at the end of last year, the Japanese brand announced financial results for the fiscal year 2024, which ended on March 31, 2025, with losses of ¥670.9 billion, or €4.1 billion.
