Honda CEO determined to defend self against possible ouster

Article by Andrew Christian, on February 18, 2015

Takanobu Ito is determined to fend off moves for his ouster as the chief executive of Honda Motor Co. and is even looking to extend his term by another two years, four people privy with the matter told Reuters. Ito is said to have upset former Honda executives as well as it long-term local suppliers by looking for global suppliers to cut its costs.

One retired executive at Honda said that Ito’s moves have thrown group suppliers into disarray, adding by the way things are going, these local suppliers could become subcontractors with “no technologies of their own." Two of Reuters’ sources said that that despite the calls for his removal, he is determined to see his reforms through.

A Honda divisional head told the news agency that since the start of 2015, Honda has been operating on the assumption that Ito will continue as CEO, adding that the top honcho has a 70-percent chance of keeping his job.

A former senior Honda executive remarked that Ito is determined to keep going as CEO, and they are “generally okay with that."

Ito’s moves have included a focus on vehicle electrification and the carmaker has courted global suppliers like Robert Bosch, Continental and TRW Automotive – thereby bypassing its local suppliers such as Keihin Corp. and Showa Corp.

Topics: honda, ceo

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Bentley Motors has just released the specs of the new Bentayga Diesel. Obviously, we couldn’t wait to share it here since it’s the first ever diesel model to come out...
by - September 26, 2016
A big chunk of Volvo Cars’ legacy in developing the most durable and capable car is evident in its latest Cross Country collection. Suffice it to say, our planet has...
by - September 21, 2016
Just very recently, we were all delighted to finally see a Bugatti Chiron out in the streets casually hanging around Cannes in France. The said car was purchased by a...
by - September 9, 2016
Earlier this year, Aston Martin wowed the world with a stunning concept car – the Vanquish Zagato. The concept made its first appearance in May during the Concorso d’Eleganza Villa...
by - September 7, 2016
Lamborghini has always been known to be the home to exotic supercars. The Italian automaker’s production facilities have hosted uniquely designed and powerful show-stopping supercars. It all started with the...
by - September 5, 2016