After six years of being in the top post, Honda Motors Co. Chief Executive Takanobu Ito will step down in the late June and will be succeeded by Takahiro Hachigo, a low-profile engineer with global experience – according to the company’s surprise announcement on Monday. In this post we discussed about Honda Motors CEO Will Step Down
Ito, who saw Honda struggle through the global financial crisis, natural disasters and the more recent damaging recalls, is a feisty former supercar engineer, has shaken up Honda’s decades-old, tightly knit supply chain, seeking to trim costs and find more cutting-edge technologies.
Takahiro Hachigo on the other hand, joined Honda in 1982 and has worked across research and development, procurement and manufacturing, with spells in the United States, Britain and China, where he is currently a senior official at the R&D arm.
“I think this is an attempt by Honda to tread a different course, with someone who upholds harmony,” said Takaki Nakanishi, a veteran auto analyst and CEO of Nakanishi Research Institute. Meanwhile, Takanobu Ito will remain on the board and become an adviser to Honda.
Japanese automaker is engaging the consequence from a veer of recalls that have questioned its reputation for quality. Ito and other executives took a pay cut in October following a fifth recall in a year of the re-engineered Fit hybrid subcompact, where multimillion-vehicle recalls to replace airbag inflators made by a top supplier, Takata, that have so far been linked to six deaths – all in Hondas.
Ito admitted this month that the Fit quality glitches could have been caused at least in part by an aggressive sales target.
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