After operating for four years without a chief financial officer, Nissan Motor Co. has named Alain Dassas, formerly of Renault, to fill the position.

Nissan, the third largest automaker in Japan, has not had a CFO since June 2003 when Thierry Moulonguet returned to his former employer Renault where he continues to serve as the French company's CFO.

Dassas will assume the duties of his new position on September 17 and will report to the CEO of both Nissan and Renault, Carlos Ghosn. Renault controls 44 percent of Nissan.

At Renault, Dassas was in charge of the Formula One Team and over 24 years has filled numerous positions within the company from investor relations to senior vice president of finance. Prior to joining the company, he worked for Chase Manhattan Bank in both Paris and New York for ten years.

Ghosn, in a statement about the appointment said, "Alain Dassas' track record leading financial services for Renault and his depth of experience and knowledge of the global financial markets will be a great asset for Nisan during our next period of growth."

For the year, shares in Nissan are down 23 percent in comparison to a 16 percent decline for Toyota and 19 percent for Honda.

Internal corporate forecasts predict a 3 percent increase in Nissan's operating profit by March 2008 after an overall drop of 11 percent last year.