Nissan CEO Carlos Ghosn said that he has no plans to resign until the Japanese automaker is “once again comfortably making profits.”
When Ghosn joined Nissan from Renault in 1999 as chief operating officer, he said that he expected to stay for 10 years.
“If you leave now, you wouldn’t be leaving — you would be deserting,” he said in an interview, after announcing his first annual operating loss on Tuesday.
Ghosn said that the “comfortable profits” were expected to come in the fiscal year ending 2011; assuming that auto demand stayed at 54 million vehicles, the dollar averaged 95 yen and Nissan cut costs.
However, the global economic crisis and the strong yen have pushed back Nissan’s goals.
– By: Kap Shah