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.

TOKYO (AP) — Embattled Japanese automaker Nissan has tapped Jeremie Papin, who was overseeing its U.S. operations, as its chief operating officer in a major management reshuffle billed as key to a turnaround.

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

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.