Honda demanded the resignation of Nissan's head for the sake of the merger

Japanese automaker Honda will agree to talks with Nissan on a merger into a single automaker if the latter's CEO, Makoto Uchida, resigns. This was reported by the Financial Times (FT) on February 18.

According to the publication, Uchida was one of the main supporters of the deal to merge the car companies, but in the process of coordination of relations between him and his colleague Toshihiro Mibe spoiled.

The Nissan CEO has expressed his intention to run the company until 2026, but because of the failed negotiations, he is under pressure from the board of directors, where, according to the newspaper's interlocutor, informal discussions have begun about his dismissal.

After the deal collapses, Nissan needs to ensure its continued existence. The automaker needs funds for restructuring, but the company's securities are rated as "junk" by S&P.

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On February 13, Japanese automakers Honda and Nissan refused to merge into a single auto concern, the cost of which would have been $60 billion. During the negotiations, the companies faced a lot of disagreements. In particular, Nissan management did not appreciate the idea of becoming a subsidiary of Honda.