Overview
- Nissan said Chief Financial Officer Jeremie Papin will step down for personal reasons, and he will remain with the company through mid-May to help close the fiscal year.
- Longtime executive George Leondis will become finance chief on April 1 after joining Nissan in 2004 and most recently leading global product and industrial operations, partnership financing, and M&A.
- The company last month cut its operating-loss forecast for the fiscal year to ¥60 billion from a prior estimate of ¥275 billion.
- Despite the improved operating outlook, Nissan still expects a full-year net loss of ¥650 billion on projected net sales of ¥11.9 trillion.
- CEO Ivan Espinosa’s restructuring continues with plans for 20,000 job cuts and seven factory closures, as the carmaker faces intense competition in China, uncertain U.S. trade policy, chip-supply risks, and energy-market volatility tied to the Iran war.