Honda chairman to step down

Honda, Japan’s third-largest auto group, has announced its chairman Fumihiko Ike is to step down.
Ike has been at the post since April 2013 and plans to leave in June. The company says it will not have a new chairman to replace Ike.

Ike is also the chairman of the Japan Automobile Manufacturers Association, but will continue in that post until his tenure ends in May of this year.

Along with other Japanese automakers, Honda has been troubled by recalling millions of vehicles which installed airbag inflators made by Takata, with its net profit for three months to December 31 taking a hit. However a company spokeswoman said the move has nothing to do with the recalls and that Ike will retire once he steps down from the post.

Source: Financial Times


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