Nissan names new finance chief, some managers to leave in latest shake-up

This post was originally published on this site
© Reuters. FILE PHOTO: A Nissan logo is pictured at the Tokyo Motor Show, in Tokyo© Reuters. FILE PHOTO: A Nissan logo is pictured at the Tokyo Motor Show, in Tokyo

TOKYO (Reuters) – Nissan Motor Co (T:) on Friday appointed American Stephen Ma as its next chief financial officer and said Hitoshi Kawaguchi and other veteran executives were stepping down, a shake-up that one source said marked a “generational change” at the automaker.

The announcement comes just weeks after the Japanese company named the head of its China business, Makoto Uchida, as its next chief executive.

Following the dramatic ouster of former Chairman Carlos Ghosn almost exactly a year ago, Nissan has been battered by scandals, plunging profits, and tensions with top shareholder Renault SA (PA:).

The company said Ma, its global controller who is turning 49 this month, would become its next chief financial officer, making him one of the highest ranking non-Japanese at the company.

He will replace Hiroshi Karube, whose departure was also announced.

“We are trying to achieve a generational change in Nissan management,” said a source at the company, who spoke on condition of anonymity.

The departure of Kawaguchi, which was earlier reported by Reuters, is also significant. The executive, who had been in charge of external affairs, had been seen as backing acting chief executive Yasuhiro Yamauchi for the top job that later went to Uchida, Reuters has reported.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment