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

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The move as announced in the United States on Thursday. It means Papin, chairman of Nissan’s Americas Management Committee, replacesMa’s replacement had been speculated about for some time, given Nissan’s problems in the key U.S. market, lately dominated by Tesla, Toyota and Ford.or about 6% of its global work force, and reducing global production capacity by 20% after reporting a quarterly loss of 9.3 billion yen .

Papin will steer a recovery, given his experience in strategy, business development and investment banking, according to Nissan, which makes the Leaf electric car, Rogue SUV and Infiniti luxury models. Last month, Fitch lowered its outlook on Nissan from stable to negative, citing its performance in the North American market, noting it may lower its ratings if weakness continues.

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Japan's Nissan reshuffles management to fix its money-losing businessEmbattled Japanese automaker Nissan has tapped Jeremy Papin as its chief operating officer in a major management reshuffle billed as key to a turnaround. The move, announced in the United States Thursday, means Papin, chairman of Nissan’s Americas Management Committee, replaces Stephen Ma, who will oversee Nissan Motor Corp.’s China operations.
Source: AP - 🏆 728. / 51 Read more »

Japan's Nissan reshuffles management to fix its money-losing businessEmbattled Japanese automaker Nissan has tapped Jeremie Papin as its chief operating officer in a major management reshuffle billed as key to a turnaround.
Source: ksatnews - 🏆 442. / 53 Read more »