1. Nissan named Makoto Uchida as its new CEO. Uchida previously served as the head of Nissan’s joint venture with Dongfeng Motor Group in China. The company also named Ashwani Gupta, who hails from Nissan affiliate Mitsubishi Motors, as its new COO. Jun Seki, the former head of Nissan’s operations in China, will serve as deputy COO. All three men were on a shortlist to replace previous CEO Hiroto Saikawa, who resigned amid an admission that he was improperly overpaid at the automaker. — BLOOMBERG
Why this matters: Amid financial scandals rocking the automaker, Nissan reported decade-low profits earlier this year and plans for 12,500 job cuts. The new leadership team will face the challenge of turning financial outcomes for the company globally, while also repairing divisions internally at the company and with French automaker partner, Renault.