"Operating profit for the first half is off our target" for full-year profit, Stephen Ma, a corporate vice president and the incoming chief financial officer, told reporters. "We are revisiting all our assumptions, and as you can see that is why we revised down our forecast for sales volume for the full year." Nissan slashed its full-year operating profit forecast by 35 per cent to 150 billion yen. That would mark its worst full-year performance in 11 years. It now sees global retail sales at 5.2 million vehicles, from 5.5 million previously. The automaker in the past few weeks has announced a revamp of its top ranks with younger executives, naming the head of its China business, 53-year-old Makoto Uchida, as its next chief executive, as it seeks to draw a line under Ghosn's legacy. Years of heavy discounting and fleet sales has left Nissan with a cheapened brand image and low vehicle resale value as well as dented profit.