This, perhaps, is an interesting difference in management style between American and Japanese corporations. In America, when the head of the company is replaced, he or she resigns “for personal reasons” or to “explore new opportunities,

Currently serving as the beleaguered automaker's chief planning officer, Ivan Espinosa will succeed Makoto Uchida on April 1.

Ivan Espinosa has spent more than two decades working for Nissan, and is tasked with turning around the imperiled Japanese carmaker.

The S&P 500 dipped into correction territory on Tuesday and Nissan has pushed out chief executive Makoto Uchida in the wake of the collapse of merger talks with Honda. Plus, banks are trying to catch up to one of the hottest trends in consumer finance: interest-free buy now,