By Kantaro Komiya TOKYO (Reuters) -Nissan Motor will reassign Chief Financial Officer Stephen Ma to head its China business in January, it said on Wednesday, a high-profile shake-up for the crisis-hit Japanese automaker as it cuts thousands of jobs worldwide.

Embattled Japanese automaker Nissan has tapped Jeremie Papin as its chief financial officer in a major management reshuffle billed as key to a turnaround.

Nissan Motor has announced the appointment of a new leadership team, effective January 1. In April 2025, Nissan will make further changes to management to create a lean, flat structure that can respond flexibly and quickly to changes in the business environment.

Nissan Motor's board has decided to reassign Chief Financial Officer Stephen Ma to head its China business, the Nikkei newspaper reported, a high-profile shake-up for the crisis-hit Japanese automaker as it cuts thousands of jobs.

Nissan said last month its half-year net earnings were down more than 90 per cent from the same period last year and cut its annual operating profit forecast by about 70 per cent

The Japanese automaker’s CFO Stephen Ma has been appointed as the chairperson of the management committee for China.