Honda Motor replaces CEO amid industry crisis

Recent Outbreaks Posted on

Honda Motor Co. said Monday that it would replace its president in June, turning to a 55-year-old engineer to lead Japan's second largest automaker through the deepening auto industry crisis.

The management shake-up marks the end of the six-year leadership of Takeo Fukui, 64, who is retiring having won plaudits for keeping Honda in profit at a time when other major Japanese automakers are into the red.

Senior managing director Takanobu Ito, who currently oversees Honda's automobile operations, will take over as president and chief executive at a crucial time as car sales slump because of the global economic downturn.

Fukui, who will remain an advisor to Honda, said he had initially hesitated at handing over the reins in the midst of the auto industry crisis.

"But when I thought of the company's growth potential after overcoming these tough times, I decided it was better to make the change now rather than later," he told a news conference.

Legal News Media

Legal News is the top headline legal news provider for lawyers and legalprofessionals. Read law articles and breaking news from law firm's across the United States to get the latest updates. We reserve the right, at our discretion, to change, modify, add, or remove portions of the site at any time. Your This site is solely for your personal use. You are, of course, welcome to print or otherwise copy material from this site for your personal use. However, you may not distribute, exchange, modify, sell or transmit anything you copy from this Site, including but not limited to any text, images, audio and video, for any business, commercial or public purpose. Any unauthorized use of the text, images, audio and video may violate copyright laws, trademark laws, the laws of privacy and publicity and civil and criminal statutes.


American Bar Association – Start and Run a Law Firm – Starting a Law Firm

Lawyer Website Designs