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Nissan CEO Makoto Uchida rules out closer capital ties with Renault

Renault holds a 43.4% stake in Nissan after it saved the Japanese company from financial ruin 20 years ago

Nissan Motor Co is committed to its automaking alliance with Renault SA but will not look to deepen its capital ties with the French automaker any time soon, its new CEO said on Monday. On his first day in the new position, chief executive Makoto Uchida also pledged to repair profitability at Japan's No. 2 automaker and said setting realistic targets would be key toward that goal, as it tries to make a clean break from the leadership of former chairman Carlos Ghosn. "Closer

Report
Nissan names Makoto Uchida as next CEO

The company also named Ashwani Gupta as its chief operating officer

TOKYO/PARIS (Reuters) - The board of Nissan Motor Co has picked Senior Vice President Makoto Uchida as its next chief executive and Ashwani Gupta as its chief operating officer, two sources said on Tuesday, following a board meeting of the scandal-hit automaker. Directors at Nissan, including those from top shareholder Renault SA , voted unanimously in favor of the two executives, one of the sources said. Both of the sources spoke on condition of anonymity.