Carlos Ghosn has just announced that he will be stepping down as Nissan CEO. After almost two decades of leadership and saving the company from collapse, Ghosn has decided that this would be the right time for a new CEO to replace him. The new CEO will assume the position on April 1, 2017.

"I am confident that the management team I have developed at Nissan over the past 18 years has the talent and experience to meet the company's operational and strategic goals”, Ghosn stated.

Carlos Ghosn to step down as Nissan CEO

Assuming the position would be Hiroto Saikawa, currently the Co-CEO of Nissan and a representative director. A company veteran, Mr. Saikawa has been with Nissan for almost 40 years, and has served as Nissan's “chief competitive officer”. He also led operations in North America before his sudden appointment as Co-CEO last year.

According to Ghosn, giving up the CEO seat allows him to be direct more time in handling the Nissan-Renault alliance along with newly acquired Mitsubishi. Despite stepping down as Nissan CEO, Ghosn is still not finished with the company as he will remain a chairman of the board and has a 34-percent stake in Mitsubishi.

“I am committed to supporting the alliance as it evolves and expands, and will continue to serve each member of the alliance wherever and whenever necessary,” Ghosn added.