Nissan to call its recovery ‘mission accomplished’, report says
By Andrew C., 27 Aug, 2010. 0 Comments
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Nissan Motor Co.'s actions in response to mounting financial losses appear to have paid off as it is now anticipating that it will soon shut down a special task force created this year to stop the losses. Colin Dodge, a Nissan executive vice president, said that Nissan has stopped losing money. He claimed that Nissan "can't stay in recovery mode forever." Dodge explained that he was asked by Nissan CEO Carlos Ghosn to use his best judgment on when to stop. Dodge had the power to make emergency rapid global changes wherever necessary. Nissan lost $2.4 billion in the fiscal year ending March 30. Since holding the temporary title of chief recovery officer last February, Dodge, along with his committee of senior managers, has done the following: pulled the plug on new-vehicle programs, bowed out of major car shows, slowed new investments, re-sourced vehicle components, moved production operations and taken other steps to slash costs. [via autoweek]
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