Nissan Motor's new management team starts on Sunday. Makoto Uchida takes office as its new president, with Ashwani Gupta of Mitsubishi Motors, an alliance partner, joining the team as COO.
The new leadership will be tasked with meeting the most pressing challenge -- rebuilding its business.
Nissan's operating profit plunged 85 percent in the April-September period of this year.
The firm plans to cut about 12,500 jobs, or 10 percent of the company's global workforce, including temporary workers.
It also needs to accelerate the launch of new models, as it lags behind other automakers, as well as to review its reliance on discounts to sell vehicles in the US market.
Another challenge the new leadership will face is how to improve relations with Renault, another alliance partner. The firms have been at odds, as Nissan raised strong objections to the managerial integration proposed by the French automaker.
Nissan has been busy dealing with the aftermath of the arrest of former chairman Carlos Ghosn for financial misconduct. This has been taking place at a time the automobile industry is going through major changes -- the development of self-driving technology and electric vehicles.
Many industry observers are waiting to see how the new management will meet the challenges.