Nissan Director offers to resign if conditions do not improve

According to Reuters, Nissan, Japan's second largest auto maker, is suffering from lower sales following the corruption scandal related to Carlos Ghosn, the former chairman.

In a meeting of anger among the shareholders, Makoto Yoshida placed his leadership position that he has held since last December, as he faced demands between reducing the salaries of executives and announcing a reward for returning Ghosn to the country after he fled to Lebanon.

The deterioration in Nissan's performance added to the pressure on Yoshida, 53, the former director of the company's operations in China, who became its third CEO since September, when he became required to take firm steps to revive the company.

At Tuesday's meeting, Yoshida, who has repeatedly faced quarrels by shareholders, said he was prepared to fire if he failed to improve the profitability of the company, which is in the process of announcing its worst annual operating profit for 11 years.

"We will make sure that we lead the company in an effective way, so that it is clear," he said. I will be obligated to do so: If conditions remain blurry, then you can dismiss me immediately.

However, he did not provide a timeframe for improving the company's performance.

Sources told Reuters that the new manager must demonstrate to the board of the 86-year-old Japanese company on the market its ability to expedite the process of cutting costs and rebuilding profits, and to demonstrate that it has the appropriate strategy to reform its partnership with French Renault.

He called Yoshida to be patient until he came up with a plan in May that would help the company recover from the profit collapse and rebound from the impasse that followed the arrest of Ghosn in Japan in late 2018 on charges of financial misconduct.

"If you can be patient for a little longer, then you will be able to feel day by day that we are changing," he added.