Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: All or nothing: Why circular business models require a holistic approach
    • Capgemini: Invent Head on automotive takeaways from CES 2023
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • Capgemini: The circular economy is spurring new thinking on EV batteries
    • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • PUBLICIS SAPIENT: The power of post-purchase: How automakers can maximize customer lifetime value
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. On the Move
December 24, 2019 08:02 AM

Nissan Vice COO Jun Seki to resign in blow to turnaround plan

NORIHIKO SHIROUZU
Reuters
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Seki-MAIN.jpg

    YOKOHAMA -- The executive tasked with leading a recovery at Nissan Motor Co. said he had decided to resign just weeks into his new job, a move that could disrupt the automaker's push to turn the corner on scandal and slumping sales.

    Jun Seki, Nissan's vice COO and a former contender for CEO, told Reuters he was leaving to become the president of Nidec Corp., a Kyoto-based manufacturer of automotive components and precision motors.

    He will likely depart in January after three decades at Nissan, including a stint heading its China business.

    "I love Nissan and I feel bad about leaving the turnaround work unfinished, but I am 58 years old, and this is an offer I could not refuse. It's probably my last chance to lead a company too," he said in a brief interview.

    "It's not about money. In fact, I will take a financial hit since Nissan pays us well," Seki said. He declined to elaborate further.

    Nissan and Nidec declined to comment.

    Seeking to roll back some of the costly expansion under ousted chairman Carlos Ghosn, Nissan has embarked on wide-ranging turnaround plan.

    That plan, which began in April, is now on track to generate a cumulative few hundred billion yen in cost cuts and operational efficiency gains by the year to March 2022, according to two Nissan sources who spoke on condition of anonymity. One hundred billion yen is roughly equal to $915 million.

    Adding to concerns about disruption among Nissan's top management, the sources said that Seki, COO Ashwani Gupta and CEO Makoto Uchida have so far failed to gel as a team after being named to their posts in October.

    They officially took over on Dec. 1.

    "There was no instant, cohesive chemistry achieved by those appointments," one of the sources said.

    Gupta and Uchida were not immediately available for comment.

    Seki's resignation could further complicate Nissan's relationship with top shareholder Renault SA. Seki recently worked in Paris for a year and was seen as relatively close to the French automaker.

    Persuaded in the end

    Asked if he was leaving Nissan because he was passed over for the role of CEO, Seki said that was not the case but did not elaborate.

    He and Uchida, most recently the head of the China business, had been seen as top contenders for the CEO job. Reuters reported in September that Uchida was seen as more favored by Renault.

    Before being named vice-COO, Seki was a senior vice-president charged with leading the turnaround.

    Nissan has been profoundly shaken over the last year, first with the downfall of long-term leader Ghosn, who is now awaiting trial on allegations of financial misconduct that he has denied. Former CEO Hiroto Saikawa then left in September.

    One of the sources said Seki was contacted by a headhunter about a job at Nidec in April, after he returned from a year working in Paris.

    Nidec's 75-year-old chairman, the brash and confident Shigenobu Nagamori, has been searching for an eventual successor to lead and expand its business.

    Nidec, which sees electric vehicles as a key driver of growth, has a 40 percent global market share in automotive electric steering motors and has said it wants to boost its share in electric vehicle propulsion motors.

    After April, Seki had no additional contact with Nidec until the recruiter called him again on Oct. 8 when Nissan announced the new management team, including Uchida as CEO.

    After that second call, Seki agreed to meet Nagamori -- to turn down the offer, the source said.

    "Nagamori talked Seki into accepting his offer in the end," the source said.

    RECOMMENDED FOR YOU
    Stellantis designer Chris Benjamin joins VW's Scout brand
    Recommended for You
    SCOUT-MAIN_i.jpg
    Stellantis designer Chris Benjamin joins VW's Scout brand
    McLaren Tobias Sühlmann 2023
    McLaren lures Bentley exec to lead design
    Bosch names leader for Americas mobility unit
    Bosch names leader for Americas mobility unit
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
      • ANE Eurostars
    • More
      • Publishing Partners
        • Capgemini: All or nothing: Why circular business models require a holistic approach
        • Capgemini: Invent Head on automotive takeaways from CES 2023
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: The circular economy is spurring new thinking on EV batteries
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • PUBLICIS SAPIENT: The power of post-purchase: How automakers can maximize customer lifetime value
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us