Nissan flags weakest profit in 11 years, Ghosn woes, bleak sales weigh [Reuters]
NISSAN MOTOR LTD S/ADR (NSANY)
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Source: Reuters
Nissan flags weakest profit in 11 years, Ghosn woes, bleak sales weigh - Reuters 4 Min Read YOKOHAMA (Reuters) - Nissan Motor Co forecast a 28% plunge in its annual operating profit, setting it up for the weakest earnings in 11 years and underscoring its struggle to turn the page after the ouster of former Chairman Carlos Ghosn. The lackluster outlook from Japan’s No.2 automaker - hit by Ghosn’s arrest last year and troubles at its North American business - is likely to add to the pressure on CEO Hiroto Saikawa as he tries to overhaul corporate governance and put Nissan on a more equal footing with alliance partner Renault. Nissan’s weakening profit has raised concerns at Renault, which holds a 43% stake in the Japanese firm and has pushed for closer ties. But some Nissan executives have opposed a full merger and what they see as an unequal partnership that gives smaller Renault more sway over Nissan. “Today we have hit rock bottom,” Saikawa told a news conference at the company’s hea
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