Nissan CEO Ivan Espinosa is steering the Japanese automaker through its most severe financial crisis since Carlos Ghosn's rescue, implementing drastic restructuring including plant closures and job cuts after taking over last year. Espinosa, a 47-year-old Mexican with 25 years at Nissan, replaced Ghosn and immediately focused on cultural overhaul and operational efficiency, creating a trusted leadership team. His plan involved shutting seven plants and cutting 20,000 jobs globally within 90 days, aiming to dismantle silos and toxic politics that hindered progress.

Despite these efforts, Nissan faces a second consecutive annual net loss of $4.2bn, with suppliers anticipating sales far below promised targets due to persistent challenges in the EV transition and intense competition from Chinese rivals like BYD. Espinosa acknowledges the existential threat, stating, 'It’s becoming increasingly difficult for companies of our size to remain relevant in this environment.' He emphasizes the need for partnerships and agility, highlighting Nissan's new $20,000 electric sedan developed with Dongfeng in China as a model for faster, cheaper development. The CEO, known for his musical hobbies and down-to-earth style, warns that navigating unprecedented disruption requires constant adaptation.