After spending half his life at Nissan, Ivan Espinosa has just been tapped to take over the troubled auto company.
Nissan announced Espinosa’s appointment on Tuesday, ending weeks of speculation over who would replace outgoing CEO Makoto Uchida. The 46-year-old Mexican national will be Nissan’s fourth CEO in eight years. A potential merger between Nissan and Honda collapsed in February, and the company announced thousands of layoffs last year. Last month, Moody’s downgraded the automaker’s credit rating to junk status, and the company said in November that it anticipated an annual revenue loss of more than $500 million.
Aside from Nissan’s existing crises, Espinosa must also navigate President Donald Trump’s proposed tariffs on cars imported from Japan, Canada, and Mexico. Even the chair of Nissan’s board of directors recognizes the scope of Espinosa’s task, saying on Tuesday that he faces “a very challenging start.”
Outgoing CEO Uchida, however, thinks his successor is well equipped to handle the tough job ahead. “Espinosa is still in his 40s and full of energy,” he said. “He’s also a real car guy.”
A long history at the Nissan
While Espinosa has said little about how he plans to revitalize Nissan, his experience at the automaker is extensive. He managed Nissan’s global product strategy and portfolio, and led its product planning and development initiatives, with stints in Mexico, Thailand, Switzerland, and Japan. He also holds a Bachelor of Science in mechanical engineering and business administration from Tecnológico de Monterrey, a private Mexican university, and completed Harvard Business School’s executive education program.
Espinosa joined Nissan in 2003, working as a product specialist in the company’s Mexico planning division. He was eventually sent to Thailand as an overseas program director in 2008. Two years later, he returned to Mexico as director of product planning for the region and then was promoted to vice president of product planning for Nissan Europe. Espinosa eventually landed at Nissan’s global headquarters in Japan in 2016, where he held several leadership roles before being named chief planning officer last year. His appointment to the top planning role was part of a priority shift geared towards helping Nissan’s investment in electric vehicles.
Bringing back a ‘passion for cars’
Espinosa has spoken openly about his lifelong love of cars and his connection to the company.
“I grew up in Nissan,” he said Tuesday. “This journey has deepened my love for cars, my passion for the automotive industry and of course my passion for Nissan.”
But he also used the opportunity to talk openly about how the carmaker has lost its “passion for cars.” That’s something he hopes to change, and has previously said it was his dream to offer younger buyers a more affordable sports car option.
“It’ll be a challenge,” he toldTop Gear in 2023. “But it’s my job to find ways to do stuff like this because I think it’ll be great for customers and the brand, and if I can put the right formula in place, we could make it work.”
But before Espinosa can tackle his sports car aspirations, he is tasked with carrying out the company’s restructuring plan and restoring investor confidence in the Japanese carmaker.
“I sincerely believe that Nissan has so much more potential than what we’re seeing today,” he said Tuesday. “I’m looking forward to building on the efforts of those who have come before me.”