Japan's Nissan reshuffles management to fix its money-losing business

TOKYO — Embattled Japanese automaker Nissan has tapped Jeremy Papin, who was overseeing its U.S. operations, as its chief operating officer in a major management reshuffle billed as key to a turnaround.

Chief Executive Makoto Uchida took a 50% pay cut to take responsibility for the results and acknowledged Nissan neededJapanese automaker Nissan cuts 9,000 jobs as its vehicles fail to sell As part of the moves, effective Jan. 1, Christian Meunier, the former chief executive of Jeep, returns to Nissan as chairman of the Americas Management Committee.

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