Nissan Reassigns CFO Stephen Ma to Lead China Operations
Nissan has restructured its leadership by reassigning CFO Stephen Ma to head its China operations, with Jeremie Papin appointed as the new CFO. This move is part of a broader turnaround strategy aimed at cost reduction amid declining sales.
Published on April 15, 2025
Nissan Motor is undertaking a significant management reshuffle amid a steep decline in sales in China and the U.S. The company has reassigned its Chief Financial Officer, Stephen Ma, to head its China operations, while Jeremie Papin, currently the Chairperson for Nissan Americas, steps into the role of CFO effective January 1, 2025. This change is one part of a larger strategy that includes cutting 9,000 jobs and reducing global production capacity by 20%, aiming to slash costs by $2.6 billion.
The reshuffle comes at a challenging time for Nissan, which continues to navigate leadership turmoil following former Chairman Carlos Ghosn's arrest and a broken partnership with Renault. Financial stress is further reflected by negative credit outlooks from rating agencies such as Moody’s and Fitch. With activist investors like Effissimo Capital Management and Oasis Management increasing their stakes, these changes signify a decisive move by Nissan to revitalize its operations and regain market footing in a competitive environment as reported throughout mid-December 2024.