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Adding to Ghosn woes, Nissan slashes profit outlook to near-decade low

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Nissan Motor Co Ltd will announce on Wednesday a large-scale cut to its earnings outlook for the fiscal year that ended in March, TV Tokyo ...

TOKYO: Nissan Motor Co slashed its full-year profit forecast to its lowest in nearly a decade due to weakness in the United States, just as it adjusts to life without Carlos Ghosn and charts its future with alliance partner Renault SA.

This is the second cut to the automaker's operating profit forecast in two months, and adds pressure on Chief Executive Hiroto Saikawa just as he works to draw a line under Ghosn's legacy by overhauling corporate governance and seeking a more equal footing with Renault, Nissan's biggest shareholder.Falling profit has been a headache since before Ghosn was first arrested in November on allegations of financial misconduct.

Since his ouster at Nissan in November, Ghosn has accused his former colleagues of a boardroom coup aimed at scotching his plan to merge Nissan and Renault.

 

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