Honda CEO Fukui Steps Aside
Another Japanese auto chief is moving aside. Amid plunging sales, Honda (HMC) President and CEO Takeo Fukui announced on Feb. 23 he will hand over leadership of the company to Takanobu Ito, chief of automobile operations, in June. The departure of Fukui, who has been boss at Honda for six years, is the latest of several corner office moves as Japanese car companies struggle to cope with dwindling sales in the U.S., Europe, Japan, and China. In January, Toyota (TM) announced its decision to replace President Katsuaki Watanabe with Akio Toyoda, grandson of the company's founder. In November, Mazda (MZDAF) said Takashi Yamanouchi would succeed Hisakazu Imazu. Legendary Nissan (NSANY) President Carlos Ghosn remains in the job but has relinquished some responsibilities recently as he balances leading the Japanese automaker and its major shareholder Renault of France.
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