By Kantaro Komiya TOKYO (Reuters) -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.

Nissan Motor Co. said Wednesday it would shake up its leadership appointments, with Chief Financial Officer Stephen Ma taking over as chief of its Chinese operations next year. Moving on from slewed sales and cost cutting measures is a difficult task for the automaker.

Nissan said last month its half-year net earnings were down more than 90 per cent from the same period last year and cut its annual operating profit forecast by about 70 per cent

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

Nissan Motor Chief Financial Officer Stephen Ma will be reassigned to head the China business as part of the struggling Japanese automaker's restructuring measures, the Nikkei business daily reported.