Nissan Motor Co. Chief Financial Officer Stephen Ma is set to step down from his position, people with knowledge of the matter said, marking yet another executive change at a challenging time for the Japanese carmaker.

As Nissan digs deep to resolve a financial crisis – one that an unnamed senior official said left it with only “12 or 14 months to survive” – it is losing a key person that

Nissan Motor's CFO Stephen Ma is set to step down, Bloomberg News reported on Saturday, citing people familiar with the matter, weeks after the Japanese automaker issued a profit warning and announced plans to cut thousands of jobs globally.

Reports of Nissan’s CFO leaving follow the departure of chief operating officer Ashwani Gupta in 2023 and the sensational arrest for former chief executive Carlos Ghosn in 2018. Several carmakers are struggling to cope with a shift toward electric cars, increased competition and weak demand from customers.

Nissan's stock rises as CFO Stephen Ma steps down, with CEO Makoto Uchida continuing to face challenges steering the company forward.

Nissan CFO Stephen Ma could be about to step down, this as the Japanese automaker faces massive layoffs and declining revenues.

Amid these challenges, Nissan has also revised its operating income forecast for the fiscal year ending in March. The company now expects an operating income of ¥150 billion ($1 billion), a staggering 70% drop from its previous estimate. This financial revision highlights the magnitude of the challenges currently facing the automaker.

Ma joined Nissan in 1996 in North America and worked in financial roles in China and Japan before being promoted to CFO in December of 2019