Nissan CFO Stephen Ma to step down, Bloomberg News reports

(Reuters) -Nissan Motor's CFO Stephen Ma is acceptable to measurement down, Bloomberg News reported connected Saturday, citing radical acquainted with the matter, weeks aft the Japanese automaker issued a nett informing and announced plans to chopped thousands of jobs globally.

It is unclear whether Ma volition permission the automaker oregon beryllium demoted, the study said, adding his bureau had declined to comment.

Nissan (OTC:) declined to remark erstwhile contacted by Reuters.

Ma became Nissan's concern main successful 2019, replacing Hiroshi Karube, weeks aft it named the caput of its China business, Makoto Uchida, arsenic its adjacent main executive.

Nissan said earlier this period that it volition chopped 9,000 jobs and 20% of its planetary manufacturing capacity, arsenic it scrambles to trim costs by $2.6 cardinal successful the existent fiscal twelvemonth amid a income slump successful China and the U.S., its 2 biggest markets.

The plans underline the vulnerability of the automaker, having ne'er afloat recovered from the disarray and interior strife that led to the 2018 ouster of erstwhile Chairman Carlos Ghosn and scaling backmost of the concern with Renault SA (OTC:).

Nissan's planetary income fell 3.8% to 1.59 cardinal vehicles for the archetypal fractional of the fiscal year, mostly owed to a 14.3% driblet successful China.

Like galore overseas automakers, it is struggling successful China wherever BYD (SZ:) and different section manufacturers are gobbling up marketplace stock with affordable EVs and hybrids that boast precocious technology.

But Nissan's bigger occupation whitethorn beryllium successful the United States, wherever it lacks a credible line-up of hybrid cars. That's successful opposition to Japanese rival Toyota (NYSE:) , which has seen a roar successful request for gasoline-electric hybrid cars.