>> Open up entirely new design for->> Veteran Nissan's CEO Carlos Ghosn stepping out of the driver's seat. He's led the Japanese automaker for the past 16 years. He'll hand over the wheel to Hiroto Saikawa, his co CEO. Who will now be the sole chief executive officer from the start of April.
Reuters' Naomi Tajitsu met with Ghosn hours after the announcement.>> Ghosn is stepping down now, cuz he's confident that Nissan has the management in place to continue his vision for the automaker Alliance of Nissan, also France's Renault and now Japan's Mitsubishi Motors. Ghosn will remain chairman of Nissan and he'll offer main chairman of the other alliance members, Mitsubishi and Renault.
Mitsubishi's recovering from a mileage cheating scandal from last year. And Ghosn wants to focus on Mitsubishi's recovery by improving the accountability of the company, and also improving its profitability.>> Ghosn is credited with turning Nissan around after taking the job in 1999. And expanding the company to key markets including China.
He'll rely on those skills again for Mitsubishi.>> Ghosn is well respected in the industry because of his ability to revive weak companies through these traumatic cost cutting plans. He's known in the industry as Le Cost Killer. He's known as a master of the turn around as he also revived Renault where he was before Nissan.
And he also revived operations at Michelin where he begin his career.>> The announcement ends years of speculation over when Ghosn would let go of the top job at Nissan. To let him also focus on Renault. Investors there had grumbled Ghosn was stretched too thin leading both of the major car makers.