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Nissan CEO Saikawa to step down on September 16

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By Reuters
Nissan CEO Saikawa to step down on September 16
Former Nissan CEO Hiroto Saikawa speaks to media before the company's board members meeting in front of his residence in Tokyo, Japan September 9, 2019, in this photo taken by Kyodo. Credit: Kyodo/via REUTERS   -   Copyright  KYODO(Reuters)

YOKOHAMA (Reuters) – Nissan Motor Co’s <7201.T> embattled chief executive will step down on September 16 and will be temporarily replaced by Chief Operating Officer Yasuhiro Yamauchi, the automaker’s board chairman said on Monday.

“Saikawa recently has indicated his inclination to resign, and in line with his desire to pass the baton to a new generation of leaders at Nissan, he will resign on September 16,” Chairman Yasushi Kimura told reporters.

The company said in a statement it aimed to find a permanent replacement by the end of October.

(Reporting by Naomi Tajitsu; Writing by David Dolan; Editing by Edmund Blair)