Carlos Ghosn cedes Nissan CEO role

TOKYO: Nissan Motor Co said Carlos Ghosn will step aside as CEO after leading the firm for 16 years, allowing him to concentrate on deploying his cost-cutting expertise across its alliance with Renault SA and newly added Mitsubishi Motors Corp. In handing over the helm to Hiroto Saikawa, a company veteran of 40 years, Ghosn ends years of speculation over when he would relinquish the top job at Japan’s No 2 automaker amid investor concerns that he was stretching himself too thin. Ghosn, 62, will continue to be chairman at Nissan, a position he also holds at Renault and Mitsubishi. — Reuters