Nissan is planning to replace CEO Makoto Uchida following disappointing financial earnings and the collapse of merger talks with Honda.

His position has become untenable but at the same time it's not certain that he will immediately depart, people familiar with the matter have said.

A new CEO, who would be Nissan's fourth in less than six years, could also serve in an interim capacity while the board searches for a permanent replacement

Nissan's board will meet soon to discuss potential replacements for CEO Makoto Uchida amid deteriorating business results and failed merger.

To everyone's surprise, Uchida's resignation comes hot on the heels of the collapse of merger negotiations with Honda. Negotiations stalled almost the moment it was suggested that

Directors of Japan's third-largest automaker Nissan will discuss potential successors to CEO Makoto Uchida at a meeting on March 11, as his position has become untenable given the worsening performance of the company,

Nissan is deep in a hole and it's getting deeper each month. In February, negotiations on a merger fell through with Honda. However, Nissan’s CEO Makoto Uchida, while admitting Nissan can't survive without inside help,