TOKYO: Nissan Motor Co. said Wednesday that it will replace Chief Financial Officer Stephen Ma with Jeremie Papin, currently chair of the Americas, effective on Jan. 1.
   
Ma will become head of the Japanese automaker’s China operations. Christian Meunier, former Jeep CEO, will succeed Papin as Americas chair.

The company will also replace chiefs of its Japan and Southeast Asian operations.

The reshuffle is designed to enable Nissan to respond quickly to changes in the business environment as the company struggles with sluggish vehicle sales in the key North American and Chinese markets.

Nissan President and CEO Makoto Uchida will stay in his current post.

The automaker plans to make additional leadership appointments in April 2025.

The company logged falls of about 90 percent in both consolidated net and operating profits for the six months ended in September from a year before.

Uchida has announced plans to shed 9,000 jobs worldwide and cut global vehicle production capacity by 20 percent.

JIJI Press