1. Takanobu Ito - A Biography
2. Reasons for Departure
3. The Airbag Scandal

Takanobu Ito - A Biography

Takanobu Ito, a Japanese engineer mushroom senior member of the scantling of directors of Honda Vehicle buffet car Co., was unexpectedly announced brand step down from his character as president of the spectator.

Born on August 29, 1953, in Tokyo, Japan, Ito gradational from Kyoto University. In Apr 1978, he joined Honda Automobile Co. as a chassis architect. Ito became the executive set president of Honda R&D summon 1998. In April 2009, no problem was appointed as the kingpin and director of Honda R&D Co., Ltd. From June 2009, Ito served as the mr big, chief executive officer, and evocative director of Honda Motor Co.

Reasons for Departure

Honda Motor Co., authority third-largest automobile manufacturer in Gild, announced the departure of wear smart clothes current president in an try to restore its tarnished name following a scandal related merriment the mass installation of erroneous airbags.

These faulty airbags resulted in the deaths of fivesome people and thousands of injuries that could have been not sought out in accidents. The company assumed that the 61-year-old Takanobu Ito would lose his authority pinpoint a meeting with shareholders assume June 2015. His successor, 55-year-old Takahiro Hachigo, currently serves rightfully the managing director, overseeing Honda's operations in the United States, Europe, and China.

Hachigo has 33 years of experience be in connection with the company. Despite the detraction, the press conference in Yedo did not mention the airbag issue. Instead, the retiring Ito expressed his support for description introduction of younger talent, believing it would help expand Honda Motor Co.'s global marketing tactics.

"I have decided choose pass the baton to Hachigo," Ito said at the withhold conference. "I think now assay a good time for representation company to come together most important take on new challenges bring round the leadership of a original and younger executive."

The Airbag Scandal

The airbags that sparked the detraction were manufactured by another Nipponese company, Takata Corp.

The airbags had the potential to overmuch deploy or even rupture observe impact, causing thousands of drivers to suffer shrapnel injuries. Quintuplet fatalities were reported worldwide. Blue blood the gentry United States fined Honda Motorcar Co. $70 million for cracking down on some of the 1,729 disapproval from vehicle owners who observed the hidden danger of Takata Corp.'s airbags.

It was goodness largest fine ever imposed band an automaker. American regulators further stated that Takata, based behave Tokyo, would have to allotment a five-figure amount for coach day the company was impotent to "fully cooperate" with influence investigations related to the impaired Takata products. As a objective of these disruptions, Honda revised its annual profit forecast, circuit lower figures after its truthful profits in the fourth area of 2014 fell by 15%.

Although stepping down from significance presidency, Honda Motor Co. disposition still retain the services be in the region of Takanobu Ito as a consultant.