The daily business briefing: February 23, 2017

Carlos Ghosn passes the baton at Nissan, Fed policymakers favor a rate hike "fairly soon," and more

A Nissan logo in Switzerland
(Image credit: Harold Cunningham/Getty Images)

1. Ghosn passes Nissan leadership to co-CEO

Nissan Motor Co. announced that Carlos Ghosn would leave his chief executive role at Japan's No. 2 automaker in April, handing control after 16 years to his recently appointed co-CEO, Hiroto Saikawa. Ghosn, revered in the industry for leading Nissan's comeback, will focus his cost-cutting expertise elsewhere in Nissan's alliance with Renault and newly added Mitsubishi Motors Corp., although he will still be Nissan's chairman. "There comes a time where you have to make some choices," Ghosn, 62, said Thursday. "I chose to pass the baton at Nissan."

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.