Carlos Ghosn hands keys to new Nissan CEO to focus on ties

Hiroto Saikawa becomes sole CEO as US sales incentives zap profits

Carlos Ghosn, one of the auto industry’s most celebrated turnaround artists, is relinquishing his CEO role at Nissan Motor and turning over day-to-day control to Hiroto Saikawa as he focuses on strengthening the carmaker’s alliance with Renault SA and Mitsubishi Motors Corp.

The move caught some observers by surprise. Only last October, Nissan elevated Saikawa to the co-CEO position along side Ghosn. However, the strategic challenges facing Nissan and its French alliance partner Renault have prompted the 62-year-old executive to step back.

Ghosn continues on as chairman of Nissan and the CEO and chairman of Renault. He’s also chairman of