Nissan enters new era of turmoil as Singapore-based Effissimo takes stake

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The Straits Times 6h ago

Nissan enters new era of turmoil as Singapore-based Effissimo takes stake - The Straits Times

Quick Summary:

Question is whether Nissan an deliver a turnaround or be forced to make more drastic changes.

Mr Ghosn staged a remarkable turnaround in a few short years, delivering Nissan’s biggest-ever profit by cutting inefficient suppliers and introducing a slew of new models.“Those were easy options in the 90s and it will take a miracle to turn this around,” Mr Anvarzadeh said.

Nissan shares rose after Effissimo, a hedge fund that buys into distressed companies, was identified as the buyer of the stake via intermediaries.