Nissan Motor Co. is shuffling its executive leadership as part of a strategy for “enhanced efficiency and resilience” to turnaround slumping sales, the company announced Thursday.
But this won’t be the last of its C-suite shake up as more changes will follow in April as part of broader effort to create a “lean, flat structure that can respond flexibly and quickly to changes in the business environment,” according to the company.
The latest executive appointments, effective Jan. 1, include:
- Christian Meunier was named chairperson of the management committee for Americas. The former CEO for Stellantis’ Jeep brand will report to Guillaume Cartier, chairperson of the management committee for Africa, Middle East, India, Europe, Oceania. Cartier on Nov. 7 was named to an expanded role of chief performance officer.
- Jeremy Papin was named CFO. He is currently chairperson of the management committee for Americas.
- Stephen Ma was named chairperson of the management committee for China. He is currently CFO.
- Shohei Yamazaki was named chairperson of the management committee for Japan/ASEAN. He is currently chairperson of the management committee for China.
Nissan said Asako Hoshino, chief brand and customer officer and chairperson of the management committee for Japan/ASEAN, will retire from her role overseeing the partnership's operations. However, she will continue as its chief brand and customer officer.
President and CEO Makoto Uchida said the appointments “will bring the necessary experience and urgency to the countermeasures we are taking to get the company back on track.”
The automaker last month reported operating profits plummeted 90% year-over-year amid slumping sales. This prompted the company to announce an initiative to cut global production 20% and eliminate 9,000 jobs to reduce costs.
