Nissan reshuffles top management team to address current struggles

Nissan is in the midst of a structural reform push to turn things around its current struggles.

After reporting its half-year net earnings were down more than 90% from the same period last year and its annual operating profit forecast cut by about 70%, Nissan president and CEO Makoto Uchida is under pressure to make the necessary countermeasures after sales have slumped in its key China and US markets.

The Japanese manufacturer is set to reshuffle its executive management with new appointments that will be effective come January 1, 2025. This is part of Nissan’s plans to “create a lean, flat structure that can respond flexibly and quickly to changes in the business environment”.

Nissan Chief Financial Officer Stephen Ma will be appointed as chairperson of the Management Committee for China. Replacing Ma as CFO is Jeremie Papin – the current Nissan Chairperson for the Americas. Meanwhile, Papin’s role as the Americas chief will be filled by former Jeep CEO Christian Meunier. The latter returns to Nissan after previously serving as the head of Nissan’s luxury brand Infiniti.

Other major executive reshuffles include Asako Hoshino, the current Chief Brand & Customer Officer (CBCO) stepping back from her role in overseeing Japan/ASEAN operations. That role will now be served by Shohei Yamazaki, the current chairperson of the Management Committee for China.

“These leadership appointments will bring the necessary experience and urgency to the countermeasures we are taking to get the company back on track. With the support of our leadership team, we will carefully execute our turnaround actions to secure sustainable profits while focusing on future growth.” said Nissan president and CEO Makoto Uchida.