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BREAKING NEWS

Honda Motor CEO steps down as weak sales and recalls prompt management shakeup

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Honda Motor CEO steps down as weak sales and recalls prompt management shakeup

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Honda has announced its chief executive is standing down.

Takanobu Ito will remain on the board as a director and adviser.

Ito, who joined Honda Motor in 1978, is a victim of poor sales and recalls.

Takahiro Hachigo, currently the company’s managing officer, is in place to take over as president and chief executive.

The switch comes into force following Honda’s annual shareholders meeting scheduled for late June.

Honda Motor is Japan’s third largest car and motorbike outfit.