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Report: Nissan focusing on 3 candidates in CEO search

Nissan Motor Co. Ltd. is focusing on three candidates in its search for a new CEO, The Wall Street Journal reported Sept. 26, citing people familiar with the matter.

The candidates being considered reportedly include Suntory Holdings Ltd. CEO Takeshi Niinami, Nissan executive Jun Seki and Mitsubishi Motors Corp. COO and former Renault SA executive Ashwani Gupta.

Sources to the Journal said Nissan is seeking a new leader with international experience and a strong reputation in Japan, and is not connected to the company's current issues.

They also said the Japanese carmaker could still add or remove names from the list ahead of its board meeting in early October as the company's nomination committee has yet to make a formal decision, according to the report.

Niinami reportedly told WSJ that he had not been contacted by Nissan and was not interested in switching jobs, saying it was an honor but "there are so many things left to do as Suntory CEO."

Renault, Nissan's alliance partner, will have a say in the CEO decision as Chairman Jean-Dominique Senard and CEO Thierry Bolloré sit on Nissan's board. Senard is also part of the nomination committee.

The report said the new CEO will have to face the task of restoring morale at Nissan following the arrest of former Chairman Carlos Ghosn over alleged financial misconduct and the company's disappointing business results.

The new leader will also have to work on Nissan's strained relationship with Renault as the two carmakers seek to overhaul the rules that govern their alliance, Journal said.

The chosen candidate will replace former President and CEO Hiroto Saikawa, who resigned earlier this month after admitting to being overpaid.

Nissan did not immediately respond to S&P Global Market Intelligence's request for comment.