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Iconic car brand’s finance chief to ‘quit’ as firm left on ‘brink of collapse’ with ’12 months’ to survive
Dec 1, 2024
THE finance chief of a major car brand is reportedly set to step down just hours after it was reported that the firm was "on the brink of collapse".
Insiders have claimed that the collapse of a major partnership has left the company scrabbling for financial backing just to make it through 2025.
It was just this week that the Financial Times reported that Nissan was fighting for its very survival in a desperate search for new investment.
Pressure on the firm's balance sheet was apparently worsened by the reported collapse of the three-way agreement between Nissan, Mitsubishi and Renault, which had been in place since 1999.
Sources claimed that the French manufacturer was looking to reduce its stake in its Japanese partner.
One company official said: "We have 12 or 14 months to survive.
"This is going to be tough.
"And in the end, we need Japan and the US to be generating cash."
In the wake of that revelation, Bloomberg is now reporting that Nissan's Chief Financial Officer, Stephen Ma, is expected to leave the role in the near future.
Ma has been in post since 2019 as part of a brutal management cull following the arrest of former CEO Carlos Ghosn, who later fled Japan amid allegations of false accounting.
Since then, the firm has cut 9,000 jobs worldwide and embarked on a savage cutback regime in an effort to save £2 billion.
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