FT News Briefing Nissan pushes CEO out
30 snips
Mar 12, 2025 Nissan's leadership shakeup sees CEO Makoto Uchida ousted after failed merger talks with Honda. The podcast highlights the impact of this transition on the company's strategy, including workforce cuts and production adjustments. Meanwhile, banks are scrambling to adapt to the booming Buy Now, Pay Later trend, competing with fintech startups while emphasizing responsible lending. As traditional banking struggles to keep pace with these innovations, the podcast dives into the challenges of the finance sector and evolving consumer habits.
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Nissan CEO Ousted
- Nissan CEO Makoto Uchida is stepping down on April 1st after dismal results and failed merger talks with Honda.
- Uchida's tenure, which began in 2019, was marked by internal strife, external crises, and profit downgrades.
Failed Honda Merger
- Honda initially proposed a holding company merger with Nissan but later demanded full control, causing the talks to collapse.
- This power struggle contributed to Uchida's exit, leaving Nissan's future partnership uncertain.
Citi's BNPL Strategy
- Citigroup aims to become a leader in Buy Now, Pay Later (BNPL) services, offering interest-free installment payments.
- Unlike fintech competitors, Citi plans to underwrite BNPL loans and report to credit agencies.