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Nissan shareholders skeptical of recovery under new midterm plan

Frustration grows as stock price performance lags behind Toyota and Honda

Nissan CEO Makoto Uchida speaks during the company's annual shareholders' meeting on June 29.

TOKYO -- Shareholders in Nissan Motor expressed growing irritation with management at the company's annual shareholders meeting Monday over a continued tumble in the auto maker's stock price and future strategy as laid out in its recently announced midterm plan criticized as lacking vision.

The once high-flying global automaker has hit a series of speed bumps beginning with the scandal surrounding the arrest of former chairman Carlos Ghosn. There have been subsequent management shake-ups and questions over internal governance as well as the company's relationship with top shareholder Renault. CEO Makoto Uchida was brought in from the automaker's China operation in December 2019 to restore order and lead a recovery, but the coronavirus pandemic has made that task even harder.

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