According to foreign media reports, people familiar with the matter said that Stephen MA, chief financial officer of Japanese automobile manufacturer Nissan, is about to step down from the position of his chief financial officer. Another executive change experienced during the challenge period.
It is reported that Stephen MA joined Nissan in North America in 1996. He was responsible for Nissan’s financial work in the Chinese and Japanese markets, and was promoted to chief financial officer in December 2019.
Prior to Stephen MA, Nissan’s chief operating officer Ashwani Gupta also left 17 months ago, which led to the highest management of Nissan Motors, Makoto Uchida, who will only have CEO Makoto Uchida, and This shows that Nissan cars are still in the predicament of management turbulence.
In response to the above reports, Stephen MA refused to comment, and a spokesman for Nissan Motors also refused to comment.
Due to outdated product lines, increased expenditures in sales incentives, and lack of hybrid models in the North American market, Nissan is forced to lay off and reduce production. Last month, Nissan announced that it would reduce 9,000 employees worldwide and reduce production capacity by 20%.
At present, Nissan’s estimates that the net operating profit of its fiscal year (April 2024 to March 2025) was 150 billion yen (about 1 billion US dollars), a 70%decrease from previous expectations.
Nissan’s current market value is about 1.5 trillion yen, which has been shrinking since its peak value of nearly 6 trillion yen in 2015. Based on the market value, Nissan has now fallen to the fifth largest automobile manufacturer in Japan, after Toyota Motor, Honda Motor, Suzuki Motors and Subaru.