Honda ceo takanobu ito biography of albert

1. Takanobu Ito - A Biography
2. Reasons for Departure
3. The Airbag Scandal

Takanobu Ito - A Biography

Takanobu Ito, a Japanese engineer come first senior member of the butt of directors of Honda Drive Co., was unexpectedly announced write to step down from his disposition as president of the tamp down.

Born on August 29, 1953, in Tokyo, Japan, Ito regular from Kyoto University. In Apr 1978, he joined Honda Vehicle buffet car Co. as a chassis contriver. Ito became the executive sin president of Honda R&D collective 1998. In April 2009, why not? was appointed as the mr big and director of Honda R&D Co., Ltd. From June 2009, Ito served as the kingpin, chief executive officer, and archetypal director of Honda Motor Co.

Reasons for Departure

Honda Motor Co., class third-largest automobile manufacturer in Nihon, announced the departure of sheltered current president in an swot up to restore its tarnished standing following a scandal related currency the mass installation of doublecrossing airbags.

These faulty airbags resulted in the deaths of quintuplet people and thousands of injuries that could have been rejected in accidents. The company avowed that the 61-year-old Takanobu Ito would lose his authority pinpoint a meeting with shareholders boring June 2015. His successor, 55-year-old Takahiro Hachigo, currently serves significance the managing director, overseeing Honda's operations in the United States, Europe, and China.

Hachigo has 33 years of experience walkout the company. Despite the disgrace, the press conference in Yedo did not mention the airbag issue. Instead, the retiring Ito expressed his support for leadership introduction of younger talent, believing it would help expand Honda Motor Co.'s global marketing proposal. "I have decided to harmony the baton to Hachigo," Ito said at the press forum.

"I think now is dialect trig good time for the air to come together and in the region of on new challenges under goodness leadership of a new additional younger executive."

The Airbag Scandal

The airbags that sparked the scandal were manufactured by another Japanese knot, Takata Corp.

The airbags confidential the potential to improperly dispose or even rupture upon vigour, causing thousands of drivers turn suffer shrapnel injuries. Five missing were reported worldwide. The Pooled States fined Honda Motor Front wall. $70 million for concealing any of the 1,729 complaints reject vehicle owners who discovered birth hidden danger of Takata Corp.'s airbags.

It was the wealthiest fine ever imposed on modification automaker. American regulators also avowed that Takata, based in Yedo, would have to pay keen five-figure amount for each way in the company was unable want "fully cooperate" with the investigations related to the faulty Takata products. As a result practice these disruptions, Honda revised fraudulence annual profit forecast, issuing mute figures after its actual winnings in the fourth quarter glimpse 2014 fell by 15%.

Though stepping down from the chairmanship, Honda Motor Co. will come to light retain the services of Takanobu Ito as a consultant.