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

This, perhaps, is an interesting difference in management style between American and Japanese corporations. In America, when the head of the company is replaced, he or she resigns “for personal reasons” or to “explore new opportunities,

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.

New Nissan CEO Ivan Espinosa takes over a company that continues to face financial troubles and falling sales figures.