Nissan set to name new CEO

FAN Editor

Nissan is set to name a new CEO.

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The Japanese automaker’s board of directors has named China head Makoto Uchida as its new chief executive, Dow Jones reports, citing a source.

Uchida’s selection follows the resignation of Hiroto Saikawa on Sept. 9 who stepped down after admitting that he was overpaid. Saikawa, whose resignation ended the era of controversy surrounding former Chairman Carlos Ghosn, said he didn’t know about the payments and didn’t order them.

Nissan is scheduled to hold a press conference announcing the decision at 7:30 a.m. ET.

This story is developing. Check back for updates.

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