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

AP Business Writer

TOKYO (AP) — Embattled Japanese automaker Nissan has tapped Jeremie Papin as its chief financial 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. Ma’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. Last month, Nissan said it was slashing 9,000 jobs, or about 6% of its global work force, and reducing global production capacity by 20%.