Ivan Espinosa has spent more than two decades working for Nissan, and is tasked with turning around the imperiled Japanese carmaker.

The rumors flying last week that Nissan CEO Makoto Uchida had one foot out the door have come true. On Tuesday, the Yokohama, Japan-based automaker announced the resignation of Uchida in the same breath as it appointed a new leader, Ivan Espinosa.

Ivan Espinosa, who ascended to the title on March 11, plans on reinforcing the company's US lineup (including the popular Rogue), cutting costs, and bringing a product-focused mindset to the brand. Espinosa's Nissan is also seeking cost- and expertise-sharing partnerships (including with electronics manufacturer Foxconn),