The carmaker has named Chief Planning Officer Ivan Espinosa as its new chief executive, replacing current CEO Makoto Uchida.

Nissan on Tuesday named chief planning officer Ivan Espinosa to take the helm from April 1, marking the end to weeks of speculation over who would succeed Makoto Uchida as leader of the troubled Japanese carmaker Nissan made the announcement in a statement,

Nissan CEO Makoto Uchida will step down from his position on April 1, with current Chief Planning Officer Ivan Espinosa set to take up the role. Espinosa will be Nissan's fourth CEO in eight years. The leadership shakeup comes less than a month after Nissan and Honda terminated merger talks.

Japanese automaker Nissan Motor Co.'s chief executive, Makoto Uchida, is stepping down after the company reported dismal financial results. Nissan said in a statement Tuesday that Ivan Espinosa, who is now the company’s chief planning officer,

Chief Executive Makoto Uchida is stepping down, with Chief Planning Officer Ivan Espinosa taking the helm of the Japanese carmaker.