Takata Corp. Chairman Shigehisa Takada will replace Swiss national Stefan Stocker as president, 18 months after appointing him to strengthen management amid a mounting recall crisis involving its faulty air bags.
Takada, who with his mother controls the Tokyo-based auto-parts supplier through a family holding company, will also take a 50 percent pay cut for four months, the company said in a statement yesterday. Stocker, who turns 61 today, asked to step down from his position, said Hideyuki Matsumoto, a spokesman for the company.
