Nissan Motor (7201) Investor Update summary

Leadership transition and rationale

• Ivan Espinosa appointed as new Representative Executive Officer, President, and CEO, effective April 1, following board approval and nomination committee deliberation, succeeding Makoto Uchida.

• Change in leadership driven by industry challenges and recent company performance, aiming for transformation and recovery.

• Espinosa selected for his global experience, product planning expertise, and passion for the company.

• Outgoing CEO Uchida emphasized the need for a fresh start to restore confidence and accelerate growth.

• Several executives, including Nakaguro, Sakamoto, Uchida, Asako Hoshino, and Hideaki Watanabe, will step down from their roles on March 31.

Strategic priorities and ongoing initiatives

• Focus on breaking away from current stagnation and returning to a growth trajectory.

• Continued exploration of new partnership opportunities and strategic collaborations, with recent talks involving Honda.

• Ongoing evaluation of global capacity and a 360-degree turnaround approach to address operational challenges.

• Reinforcement of product lineup in the U.S. and launch of new models in China, such as the N7 developed with Dongfeng.

• Commitment to building on turnaround actions and long-term vision, including Nissan Ambition 2030.

Succession planning, board, and management structure

• Succession plan for CEO has been in place since Uchida's appointment, with recent focus on narrowing candidates.

• Eight independent directors, two from Renault, and two executive officers comprise the board, with plans for continuity.

• Board and independent directors will remain to support the new management structure and ensure stability.

• Uchida and Sakamoto will remain as directors until the annual general meeting in June.

• Some executives, such as Stephen Ma, Mitsuro Antoku, and Toru Ihara, will continue in their current roles.