If you just got your best job, Ivan Espinosa, Nissan's new CEO, offers you some advice.
Espinosa played a role in a turbulent period of the global auto industry – as sales of electric vehicles slowed, competition from China increased, and new tariffs threatening profits.
"Keep optimistic because the environment is very tough and you don't want to drown," Espinosa told CNBC on Wednesday. "If you're overwhelmed, you can be paralyzed - in the current environment, paralysis is not what you need. You need to keep moving forward."
It's not just the world of automobiles. Throughout the sector, CEOs are under pressure from geopolitical instability, economic uncertainty and rapid technological changes. Many people have not yet continued.
CEOs of U.S. companies soared 38% in December alone, according to Challenger, Gray & Christmas, which was published in January this year. All in 2024, a record 2,221 CEOs resigned, the highest number since 2002 tracking began.
Espinosa believes that modern CEOs need to lead with a different mindset. "It's a very turbulent environment in which we live. In the past, some CEOs were very stubborn and very resistant to change. I think now you need to stay open and be flexible."
As the industry changes, its leadership style also follows. “There is still a lot of collaboration,” he added. “We have more public discussions about what we can do together. The context is very unique – geopolitical, supply chain challenges – and sometimes it’s impossible to go alone.”
While the number of CEOs has set a record number of starts in the past year, it has also ushered in a new wave of leadership. from Boeing and Starbucks arrive Stellantis and Nikea new category of CEOs is becoming the focus of attention and entering some of the most challenging business conditions in recent memory.
These leaders are taking the ins ropes amid global uncertainty, geopolitical tensions and the rapid development of artificial intelligence. Additionally, the risk of cybersecurity threats and supply chain disruptions continues to grow, and the job description of Hyundai CEOs looks more demanding than ever.
Nissan's Espinosa took over in April, making him the company's fourth CEO in eight years. He has worked for the Japanese auto giant since 2003, where he held his first position as a product expert in the company's Mexican department, and then in positions in Thailand and Japan.
Despite Espinosa's extensive experience, Espinosa now has a tough short: reverse the decline in sales and resist competition from Chinese automakers.
"We need to act quickly. We need to make decisions on the spot. Even if you don't have 100% available information, you need to make decisions comfortably," Espinosa told CNBC. "The process of moving and correction is better than sitting and waiting."
Shortly after obtaining the highest job, Espinosa announced plans to cut 11,000 jobs and close seven factories as part of a major restructuring. But besides reducing costs, he focused on building a cohesive leadership team.
“In today’s very complex situations, what you can’t afford is having a team that doesn’t have the same goal and doesn’t have a common goal,” he said.