Nissan CFO Stepping Down as Company Announces Job Cuts and Cost Reductions

📆 30/11/2024 2:12 p. m.
📰 ChannelNewsAsia

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Nissan,Stephen Ma,CFO

Nissan's CFO Stephen Ma is set to leave the company as it faces significant challenges, including profit warnings and plans to cut 9,000 jobs and reduce manufacturing capacity by 20% to save $2.6 billion. The company is grappling with losses in key markets like China and the US, as well as internal strife following the 2018 Carlos Ghosn scandal.

Nissan's Chief Financial Officer (CFO), Stephen Ma, is stepping down, according to Bloomberg News, in the wake of recent profit warnings and job cut announcements. The company plans to reduce its global workforce by 9,000 and slash 20% of its manufacturing capacity to cut costs by $2.6 billion.

This move reflects the ongoing challenges faced by the automaker, including market losses in its key markets of China and the US, as well as the impact of the 2018 scandal involving former Chairman Carlos Ghosn

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