*

Nissan Americas Chairperson Jeremie Papin to be new CFO

-Nikkei

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Changes expected to be announced on Wednesday -Yomiuri

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Automaker is cutting jobs and capacity as part of

turnaround

plan

(Adds background, details throughout)

TOKYO, Dec 11 (Reuters) - Nissan Motor's ( NSANF ) 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.

The replacement of Ma, who will be succeeded by Nissan

Americas Chairperson Jeremie Papin according to Nikkei, is

another blow to President-CEO Makoto Uchida as he faces mounting

pressure to rebuild Nissan ( NSANF ) after sales slumps in its key China

and U.S. markets.

Nissan ( NSANF ) said last month its half-year net earnings were down

more than 90% from the same period last year and cut its annual

operating profit forecast by about 70%.

Uchida also announced a plan to axe 9,000 jobs and 20% of

its global production capacity to reduce costs by $2.6 billion

in the current financial year ending in March.

Ma briefed analysts and investors about the execution of the

restructuring plan at a closed-door meeting last month, Reuters

previously reported.

Ma will be reassigned to head Nissan's ( NSANF ) China business, and

Uchida will remain president despite opposition from some

directors as part of a reshuffle of some executive committee

members next month, the Nikkei reported late on Tuesday.

A separate report by the Yomiuri newspaper said an

announcement was expected on Wednesday.

A Nissan ( NSANF ) spokesperson declined to comment.

The management reshuffle is the latest example of leadership

turmoil at Nissan ( NSANF ), which has never fully recovered from the 2018

arrest of former Chairman Carlos Ghosn and the unwinding of a

partnership with French automaker Renault.

In 2019, CEO Hiroto Saikawa stepped down after admitting he

received excess pay. Chief Operations Officer Ashwani Gupta left

last year, and Nissan ( NSANF ) later investigated claims that Uchida put

Gupta under surveillance.

54-year-old Ma joined Nissan's ( NSANF ) U.S. unit in 1996 and has

held financial roles in the group and its Chinese joint venture

with Dongfeng. He became Nissan's ( NSANF ) finance chief in

December 2019, weeks after Uchida took over as CEO.

Bloomberg News reported last month that Ma was expected to

step down.

The next Nissan ( NSANF ) finance chief will face the tough task of

carrying out the recovery plan to restore financial stability.

Credit rating agencies Moody's and Fitch revised Nissan's ( NSANF ) credit

outlook to "negative" last month, citing deteriorating free cash

flows.

Activist investors Effissimo Capital Management and Oasis

Management have quietly built up stakes in Nissan ( NSANF ). Both are

known for pushing for capital allocation and governance reforms

at Japanese companies.