Nissan’s New CEO Faces Investor Grilling Over Job Cuts, Losses and Mounting Debt

Ivan Espinosa’s first annual meeting as Nissan Motor Co.’s chief executive officer was a baptism by fire, as shareholders questioned the feasibility of his turnaround plan and the carmaker’s failed tie-up with Honda Motor Co.

For roughly three hours, investors grilled Espinosa about decisions mostly made before he was promoted in April, airing their grievances and rehashing the myriad missteps that led to the elimination of 20,000 jobs and closure of seven of its 17 manufacturing sites, after the company posted a net loss of ¥671 billion ($4.6 billion) in the fiscal year that ended in March.