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Fortune
Fortune
Lily Mae Lazarus

Meet Ivan Espinosa, the ‘real car guy’ Nissan just tapped to be their new CEO

Ivan Espinosa Nissan Makoto Uchida Japan Mexico
Outgoing Nissan CEO Makoto Uchida sits next to incoming CEO Ivan Espinosa (Credit: YOMIURI SHIMBUN—AP Images)

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. 

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