Nissan Motor Co. Ltd’s share price down, the CEO of its Infinity unit de Nysschen resigns to “pursue other opportunities”

The President of Nissan Motor Co.s Infinity luxury brand – Mr. Johan de Nysschen – is leaving the unit after spending two years on the position. One of Infinitis spokesmen – Mr. Stefan Weinmann revealed that the news of the resignation was announced internally today. The divisions spokesman also shared that the control of Nissans Infinity business will be taken by the current Chief Planing Officer of the company Mr. Andy Palmer in the interim, while Nissan is looking for a replacement for Mr. de Nysschen.

Mr. Stefan Weinmann, who is the general manager for global communications of Nissans Infinity business, said in a statement, which was cited by the Wall Street Journal: “He left to pursue other opportunities. We have started to search for a successor.” Mr Weinmann added: “Were convinced that the brand has a very promising future and Johans departure doesnt change that potential.”

Currently the luxury car brands in Japan, like Infinity of Nissan Motor Co. and Lexus of Toyota Motor Corp. have been trying to expand their reach and get a larger market share, while fighting the dominance of BMW AG, Daimler AG and Audi AG. The competition has become fiercer than ever considering the ambitions of smaller local rivals brands.

The resignation of Mr. Johan de Nysschen comes at a time when the company has become more focused on its luxury brand Infinity, moving the latters headquarters in Hong Kong and trying to make it more competitive on the Chinese market. Mr. de Nysschen has been occupying the position of President of the Infinity business for two years after working for Audi for more than twenty years.

The spokesman of Nissans Infinity unit refused to reveal where de Nysschen was going. Mr. de Nysschen himself was not available for comment.

Nissan Motor Co. Ltd was 0.21% down to close at 971.00 Japanese yen per share yesterday, marking a one-year change of -11.08%. According to the information published on the Financial Times, the 22 analysts offering 12-month price targets for Nissan Motor Co. Ltd have a median target of 1,035, with a high estimate of 1,300 and a low estimate of 970.00. The median estimate represents a 6.37% increase from the last price of 973.00.