Honda CEO Steps Down
Honda’s current CEO, Takanobu Ito, has announced his intention to step down from the top position at the company.
Research and development executive Takahiro Hachigo has been named as Ito’s successor. The news comes amidst a massive global recall of millions of vehicles due to faulty Takata airbags that have been linked to six deaths, all in Honda vehicles. In Japan specifically, a spat of recalls forced Ito to delay several product launches.
The move to a new CEO signals Honda’s attempt to move forward from these tumultuous times with a new, younger leader. “We are going forward,” Ito said at a news conference. “I believe this is a good opportunity to revamp our entire operations.”
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Ito had many reforms in the process of being completed, included adding extra quality checks, slowing development and trying to curb the onerous workload. Hachigo pledged to continue on the same path as Ito.
During his tenure as CEO, Ito managed to guide Honda through the recession without a full-year loss, he saw the brand return to Formula 1 racing, he helped resurrect the NSX and he got the brand’s commuter jet business up and running.
“Mr. Ito set about making major reforms,” Hachigo said. “Now in 2015, we have reached the stage were we can deliver the results of these efforts in tangible forms to our customers.”
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