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William Maley

Honda News: Honda CEO Takanobu Ito To Step Down In June

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Honda is making some changes to its executive staff with a number of new appointments. The big change is the announcement of current CEO and president Takanobu Ito stepping down in June.

Ito became the CEO back in 2009 and led the company through a tumultuous period which included the financial crisis, the massive earthquake and tsunami in 2011; and fluctuating currencies. More recently, Ito has received a lot of criticism for flagging quality issues which has led to a number of recalls, along with delays on a number of key products for the company.

Despite the recent problems Ito has been dealing with, he has also introduced a number of reforms to get the company back on track. Such reforms include the retooling of the r&d division, delegating power and responsibility to six global hubs, and the return of such models of the Acura NSX and Honda Civic Type R.

Taking Ito's place is Takahiro Hachigo. Hachigo has been with the company since 1982 and has held a number of roles at Honda including the head of the r&d department in the U.S. At the moment, Hachigo is the managing officer at Honda's office in China.

“We are going forward. I believe this is a good opportunity to revamp our entire operations,” said Ito today at a news conference.

“In 2015, Honda is ready to make a huge leap forward. To do this, I believe, Honda needs to overcome challenges under a new, younger leader as a team.”

Now this change will need to ratified by Honda's shareholders, which is expected to happen at June's annual shareholders' meeting.

Source: Automotive News (Subscription Required), Honda

Press Release is on Page 2

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Interesting, hopefully with young blood will come passion for pushing the design of the auto's from their ultra conservative bland look to something that inspires.

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