Honda plans to reduce number of board directors for faster decisions

Article by Christian A., on February 23, 2011

Honda Motor Co. plans to make several changes in its board in order to streamline decision-making. This includes removing the head of American Honda from its board and reducing the number of directors from 20 to 12. The changes are estimated to take effect in June, pending approval during the shareholder meeting for that month.

The overhaul in Honda’s management removes 9 executives from the board and adds one new member. In a statement, Honda said that most of those executives leaving the board will transfer to more hands-on positions as operating officers. One of those leaving is Tetsuo Iwamura, president of American Honda Motor Co., the Japanese brand's U.S. subsidiary.

Iwamura will remain in his position as head of American Honda and will retain his current title of senior managing director at the parent company in Japan.

Honda spokesman Keitaro Yamamoto said that doing this will hasten the decision making process and it will enable the regional operations people to “concentrate on their regional responsibilities better." Other regional chiefs on the board will cease to have board duties too.

Three of the executives leaving the board in June, including current CFO Yoichi Hojo, will serve as presidents at Honda-affiliated companies or suppliers.

Hojo will be the chief of suspension-maker Showa Corp. Replacing him as top financial boss is Fumihiko Ike, who will be promoted to senior managing director, from managing director.

Upon leaving the board, Operating Officer Tsuneo Tanai, now COO in charge of Honda's automobile operations, will be appointed president of fuel-system supplier Keihin Corp. [via autonews - sub. required]

Topics: honda

If you liked the article, share on:

Pin It

Comments

Recommended

Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 2017
Porsche is laying aside any plans of pushing another hybrid hypercar into their line-up -- at least not at this time. Oliver Blume, Porsche Global Chief confirmed in a recent...
by - March 24, 2017
Since 1993, Lexus has produced 4 generations of the Lexus GS, with the GS F amongst its newest member of the family. Unfortunately, rumors are also heating up that the...
by - March 24, 2017
In a leaked image following a presentation held in China, we learned that Czech automobile manufacturer Skoda will soon unveil 2 more new SUVs in China, resulting in a four-model...
by - March 24, 2017
McLaren is said to be designing the next generation of Sports Series, which could include a V6 hybrid among its powertrain options. It was earlier reported that the British automaker...
by - March 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries