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Nissan CFO Set to Step Down as Carmaker Faces Raft of Challenges

Livemint

Livemint · 8m ago

Nissan CFO Set to Step Down as Carmaker Faces Raft of Challenges

Nissan Motor's Chief Financial Officer, Stephen Ma, is reportedly stepping down from his position, adding to a series of executive changes at a challenging time for the Japanese carmaker. It is unclear whether Ma will be demoted or leave the company. This comes after Nissan's recent announcement to cut 9,000 jobs and reduce manufacturing capacity. The CEO, Makoto Uchida, will be the sole top-level C-suite executive at a time when Nissan is facing management upheaval and scrutiny from activist investor Effissimo Capital Management. Nissan's market value has shrunk since 2015, making it the fifth-largest carmaker in Japan.

Related News

Infosys appoints Jayesh Sanghrajka as Chief Financial Officer

Livemint

Livemint · 1y ago

Infosys appoints Jayesh Sanghrajka as Chief Financial Officer

Infosys has announced the appointment of Jayesh Sanghrajka as the Chief Financial Officer (CFO) with effect from April 1, 2024. This comes as Nilanjan Roy, the current CFO, has decided to step down to pursue personal aspirations. Sanghrajka, who has spent over 18 years at Infosys and is currently the Executive Vice President and Deputy CFO, will take over the role. The Board of Directors expressed its appreciation for Roy's contribution during his tenure.

Spotify CFO Paul Vogel to step down next year

Economic Times

Economic Times · 1y ago

Spotify CFO Paul Vogel to step down next year

Spotify's Chief Financial Officer (CFO) Paul Vogel will step down by the end of March 2024 after an eight-year tenure. This announcement follows Spotify's decision to lay off approximately 1,500 employees, or 17% of its workforce. The company, currently facing challenges, plans to launch an external search for Vogel's successor. In the interim, Ben Kung, the Vice President of Financial Planning and Analysis, will assume additional responsibilities. Spotify's shares dropped 2.3% in extended trading following the news.

Gensol CFO Jabirmahendi Mohammedraza Aga resigns

YourStory

YourStory · 2m ago

Gensol CFO Jabirmahendi Mohammedraza Aga resigns

Gensol Engineering's CFO, Jabirmahendi Mohammedraza Aga, has resigned amidst regulatory investigations and resignations of the company's promoters. Aga cited the immense pressure from ongoing challenges and disorganized data hindering responses to inquiries, affecting his well-being and ability to perform his duties. The company faces scrutiny for alleged financial misconduct, including fund diversion for personal use by related parties, and has been issued an insolvency notice by NCLT with a hearing set for June 3.

Nissan reshuffles India leadership amid dip in sales

Economic Times

Economic Times · 1m ago

Nissan reshuffles India leadership amid dip in sales

Nissan has announced a leadership reshuffle in India as it struggles with declining sales in the region. Saurabh Vatsa, Managing Director of Nissan Motor India, will lead commercial operations starting August 1, replacing Frank Torres, who is stepping down due to personal reasons. Despite the broader Indian passenger vehicle market's 2% growth, Nissan's sales declined by 7.5% in the fiscal year ending March 2025, prompting restructuring to drive future growth.

Infosys CFO Nilanjan Roy resigns; Jayesh Sanghrajka to take over the role

IndianStartupNews

IndianStartupNews · 1y ago

Infosys CFO Nilanjan Roy resigns; Jayesh Sanghrajka to take over the role

Infosys' Chief Financial Officer, Nilanjan Roy, will be stepping down from his position, and Jayesh Sanghrajka will take over as the CFO, effective April 1, 2024. Roy decided to resign to pursue personal aspirations outside of the company. Sanghrajka, currently the Executive Vice President and Deputy CFO, has over 18 years of experience at Infosys and will lead the finance function. This leadership change comes as Infosys navigates challenges in the macroeconomic environment and adjusts its revenue growth forecast.

Cleartrip names Manjari Singhal as Chief Growth and Business Officer

YourStory

YourStory · 4m ago

Cleartrip names Manjari Singhal as Chief Growth and Business Officer

Cleartrip appointed Manjari Singhal as Chief Growth and Business Officer, succeeding Anuj Rathi who led significant company growth and campaigns. Singhal, currently at Flipkart, brings expertise in consumer behavior and strategic leadership. Ajay Veer Yadav from Flipkart expressed confidence in Singhal's ability to drive Cleartrip's expansion. Cleartrip reported a 96% revenue increase in FY24 despite higher expenses. Additionally, Aditya Agarwal will step down as CFO after nine years for personal reasons.

Paytm shares hit fresh lows as Macquarie sees 'arduous' path for payments firm

VCCircle

VCCircle · 1y ago

Paytm shares hit fresh lows as Macquarie sees 'arduous' path for payments firm

Paytm's shares hit a new record low as Macquarie warns of the challenges the Indian payments firm faces in shifting customers to other banks before the central bank-set deadline. The Reserve Bank of India (RBI) ordered Paytm Payments Bank to shut down most of its business by the end of February due to non-compliance. Paytm has lost nearly 50% of its market value since then. Macquarie expects prices to drop another 28% and warns of the risk of customer exodus and declining lending business revenue.

Bandhan Bank CEO Chandra Shekhar Ghosh to step down when tenure ends in July

Livemint

Livemint · 1y ago

Bandhan Bank CEO Chandra Shekhar Ghosh to step down when tenure ends in July

Chandra Shekhar Ghosh, the founder of Bandhan Bank, has announced that he will step down as the bank's managing director and chief executive when his term ends on 9 July. Ghosh stated that he wants to assume a broader strategic role after stepping down but did not elaborate on his future position. While the bank's board had approved his reappointment for three more years, it has not yet been cleared by the Reserve Bank of India. Ghosh's resignation has raised concerns, as the bank faces possible forensic audit of its guaranteed loan portfolio and management attrition.

Jatin Dalal likely to be new Cognizant CFO

Livemint

Livemint · 1y ago

Jatin Dalal likely to be new Cognizant CFO

Jatin Dalal, the former chief financial officer (CFO) of Wipro, is expected to join Cognizant Technology Solutions Corp. as their new CFO. Dalal, an old hand at Wipro, joins Cognizant during a period of struggle for the company, which has been trying to keep pace with its peers. His move to Cognizant could be seen as a step-up, as it is a larger firm compared to Wipro. The role of a CFO has become increasingly important in technology services companies, extending beyond financial oversight to include managing operations and playing a key role in major deals.

Australia's WiseTech CEO steps down after court settlement

Economic Times

Economic Times · 9m ago

Australia's WiseTech CEO steps down after court settlement

WiseTech Global announced that CEO Richard White will step down after settling a lawsuit that led to personal allegations against him. White, the founder and largest shareholder of the logistics software company, will transition to a long-term consulting role. CFO Andrew Cartledge will serve as interim CEO. The lawsuit involved wellness entrepreneur Linda Rogan, who was fighting bankruptcy declarations. The company stated that inquiries into the media coverage and personal allegations are ongoing. White expressed that it had been a challenging time for him, his family, and the company he built.

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