Nissan Appoints Sakamoto as Panel Candidate After Seki's Surprise Departure

Nissan Appoints Sakamoto as Panel Candidate After Seki’s Surprise Departure

Nissan Motor has chosen executive officer Hideyuki Sakamoto as a candidate for the board of administrators, the company stated Friday, following the shocking departure of vice-chief operating officer Jun Seki earlier this week.

Sakamoto, who was selected as an executive officer in June and has been an executive VP since 2014, is in charge of manufacturing and supply chain administration at Japan’s  #2 auto manufacturer. Nissan will maintain an unprecedented shareholder meeting on February 18, where his appointment can be among proposals offered for approval, it said in a press release.

The car manufacturer didn’t say whether Sakamoto would take on Seki’s responsibilities.

Nissan wants stability since it braces for its worst annual profit in 11 years amid falling sales in the U.S. and China, its most important markets. The company can also be working to restore links with high shareholder and alliance partner Renault, which declined following the ouster of joint chairperson Carlos Ghosn a year in the past.

The abrupt departure of Seki, part of Nissan’s newly appointed three-person management group and the chief charged with main the recovery plan, sent the car manufacturer’s shares to an eight-year low on Wednesday. He’ll be a part of motor manufacturer Nidec as president.

Seki, CEO Makoto Uchida, and Chief Operating Officer Ashwani Gupta officially took over on December 1; however, sources say they failed to immediately gel.

Nissan’s top ranks have seen change several times in the 13 months since Ghosn’s arrest on charges of financial wrongdoing, which he denies.

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