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Japanese automaker Nissan’s chief executive, Makoto Uchida, is stepping down after the company reported dismal financial results.Nissan Motor Corp. said in a statement Tuesday that Ivan Espinosa, who is now the company’s chief planning officer, will take Uchida’s place, effective April 1.Espinosa, who joined Nissan in 2003, has spent much of his Nissan career in Mexico and Southeast Asia, overseeing product planning including the drive toward electric vehicles.“I sincerely believe that Nissan has so much more potential than what we’re seeing today,” Espinosa told reporters, while stressing that he needs time to come up with details for a turnaround.He stressed his love for Nissan, noting he has developed a deep understanding of what makes the company unique and valuable.Nissan said the company leadership needed to be “renewed” to achieve long-term growth. Uchida, who remains as a director, expressed confidence in Espinosa as “a real car guy,” and stressed he was handing over the baton of leadership to better unify company ranks.“I am confident that Nissan will definitely make a comeback,” he said, appearing at the hastily called news conference with Espinosa.Speculation about Uchida’s future was rife after he called off talks last month with Japanese rival Honda Motor Co., announced late last year, to set up a joint holding company to integrate its businesses. At the time, he told reporters the focus of the talks had changed to making Nissan into a Honda subsidiary, which he denounced as unacceptable.He also said their strategic partnership to realize synergies on specific projects like electric vehicles and other research will continue.Nissan is projecting a loss of 80 billion yen ($540 million) for the full fiscal year through the end of this month.When asked about talks with Honda and other possible partnerships, Espinosa declined comment, saying he needed more time.During Uchida’s more than five years at Nissan’s helm, sales faltered, including in key markets like the U.S. and China. Uchida also earlier announced the company was slashing 9,000 jobs.It’s a sad turn for the maker of the Z sportscar, loved by auto buffs around the world, and the Leaf electric car, a pioneer in that sector that launched in 2010.Uchida joined Nissan in 2003, job-hopping from major Japanese trading company Nissho Iwai, and worked with Nissan’s alliance partner Renault SA of France before overseeing Nissan’s China operations.Nissan was rescued from near bankruptcy by Renault in 1999. In 2018, Carlos Ghosn, the former superstar executive sent in by Renault, was arrested by Japanese authorities on various financial misconduct charges, including under-reporting his compensation. He later fled Japan for Lebanon.Nissan’s tarnished corporate image after the Ghosn fiasco was a major challenge, Nishida said. So were the COVID-19 pandemic and broader shifts in the auto industry.Apart from Uchida’s departure as chief executive, Nissan announced other sweeping managerial changes, including giving an expanded role to Guillaume Cartier, its chief performance officer, in global marketing and customer experience.Eiichi Akashi, corporate vice president of the Vehicle Planning and Vehicle Component Engineering Division, was named chief technology officer, succeeding Kunio Nakaguro.Teiji Hirata, a corporate vice president, will become chief “monozukuri” officer and executive officer, responsible for manufacturing and supply chain management, replacing Hideyuki Sakamoto.Jeremy Papin, the chief financial officer, was also appointed to be an executive officer. There was no change for Stephen Ma, who serves as chairperson of Nissan’s management committee in China. Yuri Kageyama is on Threads: https://www.threads.net/@yurikageyama Yuri Kageyama, AP Business Writer
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E-Commerce
U.S. airline stocks are tumbling today after Delta Air Lines (NYSE: DAL) issued revised guidance for its first quarter. The carrier said it now expects total revenue, operating margins, and earnings per share to be below what it initially forecasted for Q1 2025. Heres what you need to know. Delta Air Lines revises its Q1 2025 forecast Yesterday, Delta Air Lines filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC), notifying the agency that it was revising its initial Q1 2025 forecast. Deltas Q1 runs from January to March 2025. In the filing, Delta said it now expects to achieve the following in the quarter that ends on March 31: Total revenue (YOY): growth of 3% to 4% (down from an original forecast of growth of 7% to 9%) Operating margin: 4% to 5% (down from an original forecast of 6% to 8%) Earnings per share (EPS): between $0.30 and $0.50 (down from an original EPS forecast of between $0.70 and $1.00) Why did Delta revise its forecast? In short, it seems Delta is concerned that not as many people as initially expected will be flying during its Q1. In the filing, Delta said that its outlook has been impacted by the recent reduction in consumer and corporate confidence caused by increased macro uncertainty, driving softness in Domestic demand. Delta seems to believe that both consumers and corporations are jittery about the economy, and due to that, they are changing or will change their travel plans. If the economy pulls back or even goes into a recession, consumers will pull back on discretionary spending, including travel. If people jettison their travel plans, the number of airline tickets sold will also decrease. Likewise, if the economy is headed for a downturn, companies will try to offset any losses by reducing spending. One way to reduce spending is by limiting business travel. After all, why fly to a meeting when you can just hop on a video call? However, as noted in Deltas 8-K, the softness Delta is seeing is limited to domestic demand: Premium, international and loyalty revenue growth trends are consistent with expectations and reflect the resilience of Deltas diversified revenue base, the company stated. How did Delta and other airline stocks react to the news? Not well. Shares in Delta Air Lines were down over 10% in premarket trading this morning at one point. As of the time of this writing, DAL shares are down about 7.5%. Meanwhile, shares in other major U.S. carriers are also falling. American Airlines Group Inc. (Nasdaq: AAL) is currently down almost 6%, and United Airlines Holdings, Inc. (Nasdaq: UAL) is almost down 7% as of the time of this writing. It should be noted that today’s premarket drops, which seem to be a response to Deltas revised forecast, come after U.S. airline stocks already got hit somewhat hard yesterday. On Monday, the Nasdaq, S&P 500, and Dow Jones plunged after President Trump refused to rule out an upcoming recession. For weeks, economists have warned that the U.S. could undergo one due to weakening consumer confidence and the tariffs that Trump has threatened against Americas largest trading partners. Economists fear the tariffs could result in an all-out trade war. One airline stock that is bucking today’s downward trend, however, is Southwest Airlines Co. (NYSE: LUV). As of the time of this writing, LUV shares are actually up about a quarter of a percent after the budget airline announced that it would start charging some flyers for checked baggage. As for Delta, as of yesterdays close, shares in DAL had fallen nearly 17% since the start of the year. As of the time of this writing, DAL shares are currently sitting around $46 in premarket trading. Thats a low not seen since September 2024.
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E-Commerce
President Trumps address to a joint session of Congress last week is still making headlines, including celebrating cracking down on immigration; declaring male and female are the only two genders recognized by the U.S. government; loudly ending diversity, equity, and inclusion efforts; implementing aggressive tariffs; and more. And one of the most shocking things to witness again in his address was a public display of bullying: President Trump calling Sen. Elizabeth Warren, D-Mass, “Pocahontas. Its a nickname he has used to repeatedly mock her, once Warren shared publicly that she has Native American heritage. “Do you want to keep it going for another five years? Yeah, yeah, you would say. Pocahontas says yes,” Trump said, in response to the Ukraine war. When asked by the media how she felt about being called Pocahontas by President Trump, Warren said: “I actually hit a nerve when I applauded the United States’s support of Ukrainian patriots. If that hits a nerve for Trump, then it’s worth sitting through the rest of that speech.” What happened to Warren is a reminder that bullying doesnt just happen behind closed doors. Bullying can happen on a public stage. It can also happen in our workplaces, in the hallway, in meetings, and at events for all to witness and see. If you are the target of public bullying in your workplace, here are some ways to consider responding. Respond with humor In some cases, when being bullied in public, you may choose to respond with humor. This can sometimes deflect the situation, disarm and catch the bully off guard. Using humor can shift focus away from the hurtful comment that was made in the moment. Everyone but Mita can reach those mugs, a former colleague would tease me about my height at work, and how I couldnt reach the mugs on the top shelf of the kitchen. They would make jabs about my height, why my lunch smelled so funny, how I spoke English so well, and a host of other bullying comments. On days that I would have the energy, I would respond with humor: My playful, fun response: I may be short, but I am packed full of fun! My embracing the bullying as a compliment response: I love being short. They usually dont see me coming. My sarcastic response: Yes, being short is a real struggle. Somedays, I dont know how I manage to get through the day. You can respond with humor to take control back from the situation. You can try to be playful, turn the bullying comment into a compliment, or just give a sarcastic response. And sometimes, when we dont have the energy to respond or cant think of the right response, this tactic might not be the right one at the moment. And if this colleague has a track record of bullying publicly, you can be prepared in the future for what you think they might say and use humor to diffuse and deflect. Let them know its not acceptable You can also let them know calmly and firmly that this bullying comment is not okay. By speaking up, you can be clear on your boundaries without escalating things further in the moment. You can say the following: I dont appreciate that comment. I dont find that funny. Thats not cool/ Thats not okay. They might come back and say, Oh its just a joke, or, Stop being so sensitive, or, Wow, dont take things so seriously to try and shut you down again. Dont get baited into raising your voice or getting distracted by saying something you might regret. You dont want to respond with an unkind comment in the heat of the moment. More than likely, they may respond to make you seem like you are in the wrong for setting boundaries. They dont want to take accountability for their actions or apologize. They want to discredit and dismiss your feelings. In return, you can say again firmly, I dont appreciate that comment. Its not okay, and remove yourself from the situation if possible, or move on to speak to another colleague. Say nothing in the moment There have been times when I was bullied in public at work where using humor or letting the individual know their behavior wasnt acceptable wouldnt have worked. Sometimes the individual bullying us in public can be junior or can be a peer. Other times, the individual bullying us can be more senior. Power dynamics in our workplaces can impact our ability to speak up in the moment. We can be afraid of retaliation during or after the incident and how it might impact our careers. If it feels unsafe or not productive for you to speak up in the moment, it may be best to say nothing. Staying quiet, walking away, or doing your best to remove yourself from the bully may be the best option. In my experience, bullies can thrive on attention and engagement. By not reacting, you may be indicating that you arent bothered by what happened. They may get bored of targeting you if they dont see any type of response, and unfortunately move onto another target in the workplace. Ask a colleague to intervene If the bullying in public has happened before, share with a colleague you trust. Explain to them as many of the facts as you can of things that have happened before. They can be on the alert to help intervene in the future. They can be the one to say: Hey, thats not funny. Got any better jokes? I dont see anyone else laughing. Thats not cool, you need to stop. A colleague can also help redirect the conversation by offering lets talk about something else or lets focus on something thats more positive. A colleague can also help remove you from the situation; you can walk away together or distance yourself from the bully. Finally, a colleague can go with you to HR to report and document what has been happening, especially if this behavior is persistent and harmful. It may be necessary to do this to protect yourself and others from this behavior. And having a colleague as a witness and someone to support you can make all the difference. Bullying can slowly chip away at your confidence. And when its public, you may feel a swirl of emotions: embarrassment, shame, anger and more. Remember that you can try to intervene on your own, and that can be a heavy burden. Ask for help and let others know whats happening. Put a stop to public bullying not just for yourself, but for others who may be experiencing this harmful and hurtful behavior as well in our workplaces.
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E-Commerce
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