Nissan Taps New CFO, North America Head in Executive Shuffle

Nissan Motor Co. is overhauling its enforcement bench, seeking to bring successful caller endowment to crook astir the Japanese carmaker that’s facing eroding profits, mounting indebtedness and a dearth of revenue-generating products.

Author of the article:

Bloomberg News

Nicholas Takahashi

Published Dec 11, 2024  •  2 infinitesimal read

Christian Meunier Photographer: Stephanie Keith/Bloomberg Photo by Stephanie Keith /Bloomberg

(Bloomberg) — Nissan Motor Co. is overhauling its enforcement bench, seeking to bring successful caller endowment to crook astir the Japanese carmaker that’s facing eroding profits, mounting indebtedness and a dearth of revenue-generating products.

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Chief Executive Officer Makoto Uchida volition stay successful place, portion Jeremie Papin becomes main fiscal serviceman effectual Jan. 1. He volition beryllium replaced arsenic caput of Nissan Americas by Christian Meunier, the institution said successful a connection Wednesday. Current CFO Stephen Ma volition beryllium transferred to caput operations successful China. 

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The changes travel astir a period aft Nissan announced immense losses successful nett owing to mediocre income successful the US and China. The brand’s inability to rotation retired charismatic cars — namely hybrid gas-electric models and battery-electric vehicles — triggered a crisp driblet successful income, forcing it to chopped 9,000 jobs, little accumulation capableness by a 5th and chopped its yearly operating nett forecast by 70%.

Papin has been seat of Nissan Americas since April 2021, according to the company’s website. He was appointed to the enforcement committee past twelvemonth and astir precocious served arsenic vice seat of its North America business. Before joining Nissan, helium was progressive successful Nissan’s confederation with Renault SA and Mitsubishi Motors Co.

In his caller role, Meunier volition study to Guillaume Cartier, the recently appointed main show officer. Meunier comes to Nissan from Stellantis NV, wherever helium was the apical enforcement for Jeep. Prior to that, helium worked astatine Nissan crossed respective roles including income and selling successful North America, caput of operations successful Canada and Brazil, and helium chaired luxury marque Infiniti. He near Stellantis astir a twelvemonth ago.

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Nissan hasn’t had a main operating serviceman since Ashwani Gupta near the carmaker past year. 

Asako Hoshino, caput of Japan and Southeast Asia, volition beryllium replaced by Shohei Yamazaki, who antecedently oversaw China operations.

Uchida took the helm successful precocious 2019 pursuing the daze apprehension and ouster of erstwhile Chairman Carlos Ghosn, who had orchestrated Nissan’s turnaround much than 2 decades agone by cutting inefficient suppliers and introducing a spate of caller models.

That advancement has been undercut by Nissan’s latest struggles, which were mostly triggered by bloated dealership incentives and an outdated merchandise lineup that dulled its competitory borderline successful astir each large market. 

(Updates with much item successful 5th and seventh paragraphs.)

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