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.

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.

Financial Officer Stephen Ma is set to resign, Bloomberg reported Saturday, citing people familiar with the matter.  According to the report, it wasn’t clear if May would be demoted or leave the auto maker.

Nissan has cut down jobs and production due to an outdated lineup, high spending on sales incentives, and a limited hybrid presence in North America. The Japanese automaker has revised its operating income forecast for the fiscal year ending March,