Honda’s ongoing airbag problem has claimed another victim. In this case, it’s President and CEO Takanobu Ito, who will step aside in April, at the end of the automaker’s fiscal year.
Honda has been forced to recall millions of vehicles around the world due to problems with faulty airbags supplied by close ally, the Japanese partsmaker Takata. But Honda has run into a number of other issues and earlier this month scaled back its earnings forecast for the rest of the year.
Ito will be replaced by Takahiro Hachigo, currently Honda’s managing officer. During a 33-year career, Hachigo helped guide the maker’s business ventures in China, Europe and the U.S. Among other things, he led the development of the popular Honda Odyssey minivan built in one of the maker’s many American assembly plants.