Nissan Motor will reassign Chief Financial Officer Stephen Ma to head its China business in January, it said on Wednesday, a high-profile shake-up for the crisis-hit Japanese automaker as it cuts thousands of jobs worldwide.

Nissan Motor has announced the appointment of a new leadership team, effective January 1. In April 2025, Nissan will make further changes to management to create a lean, flat structure that can respond flexibly and quickly to changes in the business environment.

Nissan said last month its half-year net earnings were down more than 90 per cent from the same period last year and cut its annual operating profit forecast by about 70 per cent

Nissan Motor's board has decided to reassign Chief Financial Officer Stephen Ma to head its China business, the Nikkei newspaper reported, a high-profile shake-up for the crisis-hit Japanese automaker as it cuts thousands of jobs.

Nissan Motor Chief Financial Officer Stephen Ma will be reassigned to head the China business as part of the struggling Japanese automaker's restructuring measures, the Nikkei business daily reported.