Embattled Japanese automaker Nissan has tapped Jeremie Papin, who was overseeing its U.S. operations, as its chief financial officer in a major management reshuffle billed as key to a turnaround. The move as announced in the United States on Thursday.

Contrary to earlier reports, Nissan's CFO has not left the business and will be moved to a role overseeing China.

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

TOKYO -- Nissan Motor's board of directors has decided to reshuffle its executive committee, aiming to accelerate its restructuring effort, which includes cutting 9,000 jobs globally, as it struggles to improve its poor business performance.