Nissan CFO Stephen Ma to step down, Bloomberg News reports

(Reuters) -Nissan Motor’s CFO Stephen Ma is set to step down, Bloomberg News reported on Saturday, citing people familiar with the matter.

It is unclear whether Ma will leave the automaker or be demoted, the report said.

Nissan (OTC:NSANY) could not be reached for comment outside office hours.

Ma became Nissan’s finance chief in 2019, replacing Hiroshi Karube, weeks after it named the head of its China business, Makoto Uchida, as its next chief executive.

The Japanese automaker earlier this month issued a profit warning and announced plans to cut 9,000 jobs globally, hit particularly by weak sales in the United States and China, its two biggest markets.

Nissan’s global sales fell 3.8% to 1.59 million vehicles for the first half of the financial year, largely due to a 14.3% drop in China.