Nissan is due to unveil a shake-up in its top ranks next month with embattled CEO Makoto Uchida likely to hang on to his job, three people familiar with the matter said on Thursday, in the wake of failed talks to combine with Honda.

Nissan Motor is due to announce the management streamlining on March 12, the people said, declining to be identified because the information has not been made public.

Uchida, whose future has become the focus of speculation after two straight quarters of dismal performance plunged the car company deeper into crisis, is not expected to resign as part of the announcement, the people said.

A Nissan spokesperson declined to comment on what it said was speculation.

Bloomberg News reported on Thursday that Nissan was considering replacing Uchida, given its worsening business performance and after the collapse of talks to merge with rival Honda, citing people familiar with the matter.

Nissan directors are checking interest in potential candidates to succeed Uchida, who has been CEO since late 2019, Bloomberg News cited one of the people as saying.

Shares of Nissan rose 3.7% in Tokyo, outperforming a 0.4% rise in the Nikkei index.

Nissan and Honda ended merger talks to forge a $60 billion car company earlier this month. The deal, which the automakers had been discussing since December, was ultimately sunk by Honda's proposal to make Nissan a subsidiary, sources have said.

Uchida told a press conference after announcing the termination of merger talks that ending Nissan's malaise was the most pressing issue, after which he would be willing to bow out.

Reuters reported in December that Uchida was under pressure to deliver a turnaround with the next few months seen as critical for him and the automaker.