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Nissan has announced a series of leadership changes to help the brand stay afloat during this critical period. The changes will focus on China, one of the crucial markets for the Japanese automaker. Firstly, Nissan’s current CFO, Stephen Ma, will step down and take on the role of Chairman of the China Management Committee.
Jeremie Papin, the current Chairman of the Americas Management Committee, will replace Ma as the new CFO. Christian Meunier, the current Chairman of the China Management Committee, will assume Papin’s role as Chairman of the Americas Management Committee.
Nissan has also appointed a new Performance Director, Guillaume Cartie, who officially started his duties on December 1st. The leadership overhaul doesn’t stop there. Asako Hoshino, Nissan’s current Brand and Customer Director and Chairman of the Japan/ASEAN Management Committee, will relinquish her role in overseeing Japan/ASEAN operations to focus solely on her Brand and Customer Director position.
Shohei Yamazaki, the current Chairman of the China Management Committee, will succeed Hoshino. The new appointments will come into effect from the beginning of 2025. This restructuring of the management team comes at a time when Nissan is facing numerous challenges. The brand has been consistently losing market share in all its key markets. In 2023, Nissan sold only 834,097 vehicles in the US, a decline of nearly 300,000 units compared to a decade ago.
Back in November, Nissan admitted to Reuters that the automaker could only sustain its current operations for another 12-14 months. The company’s profit plunged by 85% in the third quarter of this year, resulting in a net loss of approximately $60.1 million.
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