Word: ghosn
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Dates: during 2000-2009
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...Ghosn, who was born in Brazil to Lebanese parents (and speaks six languages), enjoys rock star popularity in Japan for turning the flailing company around nearly a decade ago. But not even a champion CEO is safe from the current crisis, which he calls "unchartered territory" that could stretch anywhere from six months to three years. (See the history of the electric...
Nissan CEO Carlos Ghosn, the charismatic leader of Japan's number three automaker, sat down with TIME to discuss the auto industry's current crisis, how to make electric cars a reality, and what we'll drive 10 years from now. Though better off than its American counterparts, Nissan recently reported a 39% drop in second-quarter profit, has seen its stock price plummet, and plans to halt production of nearly 300,000 vehicles through March of next year...
TIME: How do you see the auto industry's current problems playing out? Carlos Ghosn: We are expecting year 2008 to show a very significant decline compared to 2007. We are preparing ourselves for a couple of very tough years, not only in the U.S., but particularly in the U.S. The only good news that may come will come from emerging markets, because the number of cars per inhabitants is very, very low. There are 50 cars per 1000 inhabitants in China... compare that to 600 per 1000 on average in most Western countries...
...find a country that's keeping its head above water," says Véronique Riches-Flores, chief European economist at French bank Société Générale. Business leaders ranging from Sir Stuart Rose at British retailer Marks & Spencer to Renault's CEO Carlos Ghosn are sounding the alarm. At Burberry, the luxury-goods firm, CEO Angela Ahrendts frets about a combination of rising costs, falling demand and a strong euro that cuts into competitiveness. "There's a perfect storm out there," she says. Many investors would agree: this year, stocks across Europe are down...
...says it will cost some $785,000 just to compete at Le Mans. Funds have come from Tokai University, sponsors, and from Hayashi's own pocket. Additional cash is trickling in from a donation drive backed by the governor of Japan's Kanagawa prefecture, and Nissan CEO Carlos Ghosn...