Stefan Stocker is quitting as president of Takata

Article by Christian Andrei, on December 28, 2014

Stefan Stocker will quit from his post as president of Takata Corp. as the supplier still faces a global crisis for its faulty airbags. Stocker joined Takata in February last year from Robert Bosch, taking the seat as president from Shigehisa Takada, who is still the company’s chief executive and chairman.

With Stocker’s departure, Takada will be taking on three roles – president, CEO and chairman – that make him the sole top man to consolidate Takata’s response to the recall crisis. Edwin Merner, president of Atlantis Investment Research in Tokyo, wasn’t so receptive of the move, saying that putting “all the management back to the family sounds so negative.”

He added that Takata has done “everything wrong,” has zero corporate governance, and is one of the worst examples of poor management. He remarked that as long as Takata doesn’t have a new management, it won’t survive. The company tapped Stocker’s services to increase its oversight of its global operations.

Takada is the grandson of the company’s founder, whose family still owns a majority of the Japanese supplier. Takata has been under fire from safety regulators, lawmakers and people seeking damages through class action lawsuits, no thanks to its handling of the current airbag crisis.

Takata has announced that Takada will take a 50-percent compensation cut for four months in response to the safety crisis. Stocker and three other senior staff will also see their pay trimmed for four months.

Topics: takata

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The much-anticipated debut of the new Wrangler will surely happen. As it approaches, we’ve gathered all the latest information released so far. Of course, most are expecting that the next...
by - December 5, 2016
Nissan has announced the pricing for its new commercial pickup line. So for those who have been waiting for Nissan’s official price list (plus a little more info), read on… ...
by - December 5, 2016
Sorry folks, the AMG-fied Mercedes-Benz X-Class will remain in the fantasy world. According to some news, the AMG big boss has finally spoken up about why an AMG X-Class is...
by - December 5, 2016
In Japan, Toyota stays in the limelight by always cooking up something new for its famous 86 sports car. A colour orange Toyota 86 performance edition is one that’s hard...
by - December 4, 2016
Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
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