Carlos Ghosn, one of best-known leaders in automotive industry, has announced that he will step down as Nissan Motor's president and CEO, effective April 1. The hugely successful Mr Ghosn will remain with company as chairman to oversee wider group of carmakers that, in addition to Nissan, includes France's Renault and Japan's Mitsubishi Motors. Ghosn told reporters: "I'm stepping down as CEO because it's right moment and I have right team. I think after 16 years as CEO and 18 years taking care of Nissan, I can say today that what I can bring to Nissan, I have already brought." He added: "Nissan is profitable, financially healthy, with clear strategy."
Carlos Ghosn joined Nissan as Chief Operating Officer (COO) in 1999, after Renault purchased stake in Japanese automaker. He became president in 2000 and was named CEO following year. He is credited with turning around Nissan by producing attractive new cars and models and cutting costs. His cost-cutting strategies earned him nickname "The Cost Killer". Following turnaround of Nissan, Fortune magazine awarded him Asia Businessman of Year in 2002. year later, magazine named him as one of 10 most powerful people in business outside the USA. He became celebrity in Japan, where his life story has been depicted in manga comic book.