Nissan execs face off with angry shareholders over red ink and Carlos Ghosn scandal

Nissan Chief Executive Makoto Uchida told shareholders Monday he is giving up half his pay after the automaker sank into the red amid plunging sales and plant closures in Spain and Indonesia. Uchida apologized for the poor results and promised a recovery by 2023, driven by cost cuts and new models showcasing electric cars and automated-driving technology. "We will tackle these challenges without compromise," he said at a live-streamed meeting. "I promise to bring Nissan back on a growth track." All the world's automakers have been hurt by nose-diving sales caused by the coronavirus pandemic.