Officer: Nissan and Seki

officer: He was tasked with spearheading the implementation of its restructuring measures. ; Seki is set to join leading Japanese electric-motor manufacturer Nidec Corp. as president and chief operating officer, according to The Japan Times. The 58-year-old, who has confirmed the move, was among the contenders to be Nissan's chief executive officer in October but missed out to Makoto Uchida, who was until recently the company's China chief. Nissan said in a statement it accepted the resignation but did not disclose the reasons for the departure of Jun Seki, who took the automaker's No. 3 post of vice chief operating officer on Dec. 1. Nissan has seen its share of executive departures since last year's shock arrest of former longtime chief Carlos Ghosn, but Seki's exit stands out because he was part of a triumvirate set up to disperse leadership responsibilities at the automaker, Japan's third largest by output. Seki will be joining a company that makes about an eighth of Nissan's sales, but has a market value that's more than 60 percent higher at about 4.5 trillion 41 billion . Known for its precision products, Nidec is the world's No. 1 supplier of hard-drive motors. The defection marks yet another distraction for Nissan, which is struggling to recover from the chaos unleashed by Ghosn's arrest and an industry downturn, with profits at a decade-low and relations tense with French partner Renault SA. The departure of Seki, who spent most of his career in engineering and manufacturing at Nissan, comes at a precarious time for the company and the auto sector, with established carmakers seeking scale through consolidation as a way of splitting the billions of dollars in investments needed to keep up with the shift toward electric and self-driving cars. (news.financializer.com). As reported in the news.