Nissan CFO reportedly quits as automaker grapples with crisis

Chief Financial Officer Stephen Ma started in the role in 2019 and the company is in so-called emergency mode

Nissan is having a tough time these days. CEO Makoto Uchida recently declared that the company was in “emergency mode.” Joining him on stage at the announcement was Chief Financial Officer Stephen Ma. Now, it looks like Jack Ma is leaving the brand, or at least resigning from his role.

The new report comes from what Bloomberg calls “people familiar with the matter.” Again, at this stage, Ma will either remain at Nissan, transition to a new role within the company, or leave entirely if reports are true. For context, Ashwani Gupta resigned as Nissan’s chief operating officer less than two years ago.

Emergency mode means hard cuts

As part of this “emergency mode,” Uchida outlined a series of painful cost-cutting measures aimed at keeping the automaker afloat. About 9,000 employees will lose their jobs, while executives, including Uchida himself, have agreed to voluntary pay cuts. To make matters worse, Nissan announced that it would cut U.S. production by 17%. The move comes as the brand sees a significant drop in global production.

According to Nissan’s own data, production is falling everywhere except in Mexico, where the automaker has managed to maintain growth. Despite such bright spots, global sales remained flat, providing little relief for the struggling automaker. Can Nissan turn things around in 2025? An unnamed source told the Financial Times that Nissan needs to survive for 12 to 14 months, with the company’s efforts facing an ominous deadline.

Is Nissan transforming fast enough?

To survive, Nissan needs to capture as much of the hybrid wave as possible in the U.S., where it lags behind rivals in electrification. But reducing production to save costs could further limit its ability to meet market demand, creating another challenge for automakers.

If Chief Financial Officer Ma Shichi does resign, his replacement will undoubtedly face the difficult task of promoting Nissan’s financial recovery. As time passes and drastic measures are implemented, the next few months will be crucial for Nissan’s future. It remains to be seen whether the automakers can turn around or sink under the mounting pressure.

Image source: Nissan