Everyone has good days, and bad days. On your bad days, did anyone try to boot you from your job and suggest you take advice from a fugitive? That’s what current Nissan CEO Ivan Espinosa faced today during the company’s 127th shareholders meeting, held at Nissan’s headquarters in Yokohama, Japan. After the meeting, we can’t help wondering if he considered hiding in a big musical instrument box to escape the crowds.
Nissan
So, what exactly happened? Those of us with a beat on the auto industry know that annual shareholder meetings are largely cut-and-dry, packed with some financial speak and a series of proposals that shareholders can vote on. It’s rare that things ever really step out of line, but Nissan has had it rough in recent years, and investors are speaking out. In what Automotive News calls a raucous meeting, one person even called for Nissan’s notorious former CEO Carlos Ghosn to join the company’s board of directors.
Considering Ghosn fled Japan a few years back and is still a wanted criminal there, that would make board meetings even more awkward than they already are. Let’s take a closer look at what went down today.
A Tough Room From The Start
Nissan CEO Ivan Espinosa 2026 Shareholder MeetingNissan
As previously stated, shareholder meetings are usually pretty sleepy. But before Espinosa even kicked things off, there was a no-confidence vote called by a shareholder, directed at the CEO and last year’s meeting which also wasn’t exactly roses. Espinosa is still the CEO of Nissan, so you can guess how that went.
But then came the criticism. People harped on how things are voted on, complained about stock prices, voiced concerns over proposals, complained about stock prices, spoke out against board nominees, complained about stock prices… you probably see where this is going. It’s true that Nissan stock hasn’t done well in recent years, long before Espinosa was in charge. For better or worse, Nissan stock was indeed stronger in the Ghosn era, which is apparently why one shareholder called for Ghosn’s return to Nissan’s board.
“We need a person like Carlos Ghosn. He had bad aspects, but he had good aspects as well,” said one investor, according to Automotive News. “I want such a leader.”
Ghosn’s Story In A Nutshell
Carlos Ghosn Unveils R35 Nissan GT-R At 2007 Tokyo Motor Show
Nissan
To refresh everyone’s memory, Ghosn was arrested back in 2018 on alleged financial misconduct charges. Prior to that, Nissan was moving along reasonably well. He maintained his innocence and claimed the charges were an attempt by other Nissan executives and Japanese officials to oust him from the company. He famously fled house arrest by hiding in a musical instrument box and was literally smuggled out of the country to Lebanon.
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The person tasked to turn Nissan around has faced a not-so-pleasant situation with shareholders.
How far has Nissan stock slid? Compared to the financials shortly before Ghosn’s arrest, it’s down approximately 66%. That’s a decidedly hefty drop, and they’re slipping again as Espinosa tries to turn things around. Shareholder angst, frankly, is understandable.
A Shaky Recovery
2026 Nissan Frontier Pro-4X front 3/4Nissan
While stocks are clearly on the minds of investors, there’s no denying that the company is doing better financially. In May, Espinosa proclaimed the company had “moved beyond recovery” and was “entering a phase of growth.” To back that up, he reported an operating profit of $367 million to end fiscal year 2025. It wasn’t a huge number, but it was still a profit. Nissan was facing a $63 million loss in Q3 of the fiscal year.
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The company CEO seems open to lots of different possibilities.
But sales are still a worry. In the US, Nissan finished the year up very slightly at just under 1%. With Infiniti included, however, sales were nearly stagnant at just 0.2% versus last year. But through the first quarter of 2026, sales fell 7.7% for Nissan. As the company continues to drastically cut costs, it’s safe to assume all eyes will be focused on Q2 sales, which will be announced in just over a week as this post goes live. One can’t simply cut costs to achieve positive growth. You have to sell stuff, too.
CarBuzz Insight – Why This Matters:
There are some positive things happening at Nissan right now, but the company isn’t out of the woods just yet. The fact that shareholders are looking to a fugitive accused of financial crimes as a possible solution to Nissan’s financial woes suggests the situation is a bit more desperate than anyone realizes. But, such turnarounds take time, and Espinosa is at least pulling on some of the right strings with new investments in SUVs – the moneymakers for all car companies these days.
The big question is whether weary Nissan investors will give him enough time to push through the necessary changes. Based on this recent shareholder meeting, that could be Espinosa’s biggest challenge of all.
Source: Automotive News
