Nissan isn’t in the pink of health at the moment, and that may be putting it lightly. The Japanese carmaker’s share price has fallen to the lowest level in over a decade after it slashed its full-year profit outlook and scrapped year-end dividend payouts.

Nissan’s stock is down 19% since the start of the year, following a 28% decline in 2019 and 22% in 2018. The Yokohama-based carmaker also revised its full-year operating profit forecast to 85 billion yen (RM3.2 billion), down from an initial estimate of 150 billion yen (RM5.65 billion).

With plunging sales, it’s not an easy time and task to steer this big ship, more so after the ouster of Carlos Ghosn, but Makoto Uchida stepped up as the new CEO in December. Formerly Nissan’s head of China, Uchida was repeatedly heckled by shareholders at the recent shareholders’ meeting and has responded by putting his job on the line, Reuters reported.

Facing various demands ranging from cutting executive pay to offering a bounty to bring Ghosn back to Japan (the former Alliance supremo is now a fugitive in Lebanon), Uchida said he was ready to be sacked if he failed to improve profitability. Nissan is on course to post its worst annual operating profit in 11 years.

“We will make sure that we steer the company in an effective way so that it is visible in the eyes of viewers. I will commit to this: if the circumstances remain uncertain you can fire me immediately,” he declared, without giving a timeframe.

Uchida also pleaded with shareholders to be patient while he comes up with a plan by May to recover from falling profits and a corporate shake-up following Ghosn’s ouster. “If you can be patient a little bit longer, on a day-to-day basis you will be able to sense we are changing,” he said, asking for time. As he’s been in the very hot seat for just a couple of months, that’s only fair, but pressure is mounting very early in his tenure.

At the extraordinary meeting in Yokohama, shareholders voted in new directors including Uchida and COO Ashwani Gupta, while voting on motions for the old guard – CEO Hiroto Saikawa and COO Yashuhiro Yamauchi – to leave their board director positions.