Nissan Estimates First-Quarter Loss At $1.38-B

Nissan Motor shareholders vented their frustrations over the automaker’s poor performance during its annual general meeting, with some demanding greater management accountability for the deepening crisis at Japan’s third-largest car company, Reuters reported.

It remains to be seen whether Nissan's new CEO, a longtime company veteran, can halt Nissan’s sharp decline. I Photo: Nissan Facebook

The meeting marked the first for new CEO Ivan Espinosa, who replaced Makoto Uchida in April. It remains to be seen whether Espinosa, a longtime company veteran, can halt Nissan’s sharp decline.

Espinosa plans deep cost-cutting measures, including the closure of several plants and workforce reductions, as Nissan continues to lag behind rivals like Toyota and other manufacturers in Europe and China.