Honda Switches CEO Amid Latest Recall, Financial Struggles
Honda CEO Takanobu Ito will step down, and relatively unknown Managing Officer Takahiro Hachigo will replace him.By Jamal Andress | February 23, 2015
Japanese automaker Honda has chosen a new CEO to guide the auto giant out of its latest recall woes. After six years at the helm, Takanobu Ito will step down from his post as CEO and be replaced by Honda Managing Officer Takahiro Hachigo.
Fortune describes Ito as "a feisty former supercar engineer, (who) has shaken up Honda's decades-old, tightly knit supply chain, seeking to trim costs and find more cutting-edge technologies. That has rankled local suppliers."
Hachigo, on the other hand, seems to be a much more likable figure within the company. A veteran auto analyst said of the switch, "I think this is an attempt by Honda to tread a different course, with someone who upholds harmony."