On Monday, Honda Motor Co. announced that CEO Takanobu Ito is stepping down in June, to be replaced by a relatively low-level engineer, Managing Officer Takahiro Hachigo. Ito, 61, has been chief executive since 2009, and his tenure has been marred by defects in the Fit hybrid, recalls due to faulty airbags made by Takata Corp., and other perceived missteps. Still, the resignation and promotion of Hachigo took Honda-watchers by surprise, Reuters reports.
Ito had tried to reform Honda's company culture and supply chain, upsetting partners and former executives alike, veteran Japanese auto analyst Takaki Nakanishi tells Reuters. "I think this move is an attempt by Honda to tread a different course, with someone who upholds harmony."
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