Nissan Motor chooses new CEO

Nissan Motor has appointed senior vice president Makoto Uchida to be its next president and chief executive officer. His predecessor, Hiroto Saikawa, resigned in September over his overcompensation.

Nissan's board of directors met on Tuesday to choose the new CEO.

Uchida will be tasked to review the company's relationship with alliance partner Renault and improve Nissan's performance.

The board also named Mitsubishi Motors' chief operating officer Ashwani Gupta as Nissan's COO. Gupta is originally from Renault.

The directors also decided to appoint Nissan's senior vice president Jun Seki as vice COO.

Nissan says it will aim for the personnel changes to take effect on January 1 at the latest.

Uchida is 53 years old. He joined Nissan in 2003 after working for a trading company. He has headed Nissan's joint venture in China since last year.