Executive Tsunami At Honda Motor Co.- New President & CEO And Other Management Changes
 Honda Motor Co's incoming President and Chief Executive Officer Takahiro Hachigo attends a news conference at the company's headquarters in Tokyo February 23, |
Notice Concerning Management Changes
February 23, 2015 - The Board of Directors of Honda Motor Co., Ltd. (the “Company”), at its meeting held on February 23, 2015, has decided on changes in its Operating Officers as of April 1, 2015 and its Directors as of June 2015. Those changes in its Directors as of June 2015 are subject to approval at the General Meeting of Shareholders of the Company scheduled to be held in June 2015.
Particulars:
1. Changes in Board Members
< As of June 2015 >
Planned changes in Representative Directors
| Name | New Title | Current Title |
|---|---|---|
| Takahiro Hachigo | President, Chief Executive Officer and Representative Director | Managing Officer |
| Takanobu Ito | Director and Advisor | President, Chief Executive Officer and Representative Director |
Mr. Takahiro Hachigo is to become a Senior Operating Officer in April 1, 2015.
Mr. Takahiro Hachigo is also one of the candidates (along with those mentioned hereafter) to be newly appointed a Director, subject to approval at the General Meeting of Shareholders scheduled to be held in June 2015.
Planned changes in Directors
Directors (not including Representative Directors) to be newly appointed
| Name | New Title | Current Title |
|---|---|---|
| Koichi Fukuo | Senior Managing Officer and Director | Senior Managing Officer |
| Yoshiyuki Matsumoto | Senior Managing Officer and Director | Managing Officer |
| Yoshi Yamane | Senior Managing Officer and Director | Managing Officer |
| Masayuki Igarashi | Operating Officer and Director | Director of Asian Honda Motor Co., Ltd. |
Mr. Masayuki Igarashi is to become an Operating Officer in April 1, 2015.
Directors to retire
| Name | New Title | Current Title |
|---|---|---|
| Takashi Yamamoto | Senior Managing Officer and Director | |
| Yoshiharu Yamamoto | Senior Managing Officer and Director | |
| Toshihiko Nonaka | Managing Officer | Managing Officer and Director |
| Yuji Shiga | Operating Officer and Director |
Mr. Toshihiko Nonaka is expected to assume the office of President, Chief Executive Officer and Representative Director of Honda Engineering Co., Ltd. as of April 1, 2015.
2. Planned changes in Corporate Auditors
< As of June 2015 >
Corporate Auditors to be newly appointed
| Name | New Title | Current Title and Background |
|---|---|---|
| Hideo Takaura | Corporate Auditor | Certified Public Accountant, Hideo Takaura Office; Auditor, Innovation Network Corporation of Japan (INCJ); Auditor, The Uehara Memorial Foundation |
| Mayumi Tamura | Corporate Auditor | Former Executive Officer, Senior Vice President and Chief Financial Officer of Walmart Japan Holdings GK; Former Executive Officer, Senior Vice President and Chief Financial Officer of Seiyu GK |
Mr. Hideo Takaura and Ms. Mayumi Tamura are candidates for the outside corporate auditors defined under the provision of the Companies Act.
Corporate Auditors to retire
| Name | Current Title |
|---|---|
| Hirotake Abe | Corporate Auditor |
| Tomochika Iwashita | Corporate Auditor |
3. Planned changes in Operating Officers
< As of April 1, 2015 >
Operating Officers to change titles
| Name | New Title | Current Title |
|---|---|---|
| Takuji Yamada | Senior Managing Officer | Managing Officer |
| Yoshiyuki Matsumoto | Senior Managing Officer | Managing Officer |
| Toshiaki Mikoshiba | Senior Managing Officer | Managing Officer |
| Yoshi Yamane | Senior Managing Officer | Managing Officer |
| Takahiro Hachigo | Senior Managing Officer | Managing Officer |
| Takashi Sekiguchi | Managing Officer | Operating Officer |
| Soichiro Takizawa | Managing Officer | Operating Officer |
| Kohei Takeuchi | Managing Officer and Director | Operating Officer and Director |
Operating Officers to be newly appointed
| Name | New Title | Current Title |
|---|---|---|
| Kazuhiro Odaka | Operating Officer | General Manager of Associate Relations Division of Business Support Operations |
| Masayuki Igarashi | Operating Officer | Director of Asian Honda Motor Co., Ltd. |
| Hiroyuki Kachi | Operating Officer | Senior Vice President & Director of Honda Cars India Ltd. |
< As of June 2015 >
Operating Officer to be promoted
| Name | New Title | Current Title and Background |
|---|---|---|
| Takahiro Hachigo | President, Chief Executive Officer and Representative Director | Managing Officer |
More About Takahiro Hachigo President and CEO
Takahiro Hachigo, currently the company’s Managing Officer, will become Senior Managing Officer effective in April 2015, and will become President, Chief Executive Officer and Representative Director in late June 2015. Takanobu Ito, the current President, Chief Operating Officer and Representative Director, will remain on the board and assume the post of Director and Advisor to Honda Motor. This management succession will occur following the final decision of the Honda Motor Board of Directors after the company’s annual shareholders’ meeting, scheduled for late June 2015.
Hachigo joined Honda in 1982, and began his career in its automobile research and development operations, principally as an engineer in the area of chassis design. Hachigo was in charge of developing the first-generation of U.S.-built Odyssey minivan, which was launched in 1999 primarily for the U.S. market. Hachigo went on to assume responsibilities as the person-in-charge of developing the second generation CR-V, Honda’s highly successful compact sport-utility vehicle for the worldwide markets, in 2001.
From April 2004 to March 2006, Hachigo was stationed in the U.S. as Senior Vice President of Honda R&D Americas, Inc., where he became actively involved in the local development of Honda and Acura automobiles. In April 2006, Hachigo became Operating Officer of Honda R&D Co., Ltd. (“Honda R&D”) and subsequently gaining promotion to Managing Officer in April 2007. After retiring from this position in March 2008, Hachigo became General Manager of Purchasing Division No.2 of Purchasing Operations, Honda Motor, in April and became Operating Officer of Honda Motor in June of the same year. Hachigo then assumed a role in the area of manufacturing as General Manager of Honda’s Suzuka Factory in April 2011. He served as Vice President and Director of Honda Motor Europe Ltd. from April 2012 to March 2013 and also as President and Director, Honda R&D Europe (U.K.) Ltd., from September 2012 to March 2013. In 2013, Hachigo’s responsibilities shifted to China, becoming Vice President of Honda Motor (China) Investment Co., Ltd. in April, simultaneously becoming Representative of Development, Purchasing and Production (China), Honda Motor, and Vice President of Honda Motor Technology (China) Co., Ltd. In April 2014, Hachigo was promoted to Managing Officer of Honda Motor, a title he currently holds.
Ito joined Honda in 1978 and began his career in the company’s automobile research and development operations, primarily as a chassis design engineer. Ito was in charge of developing the all-aluminum uni-body frame structure for the highly acclaimed first-generation NSX sports car that went on sale in 1990. In June 2000, he was appointed a member of the Honda Motor Board of Directors, subsequently assuming responsibilities as President and Director of Honda R&D, General Manager of the Suzuka Factory, and most recently, President, Chief Executive Officer and Representative Director of Honda Motor, a title he has held since June 2009.
During the six years of Ito’s leadership, Honda was able to actively evolve its global manufacturing structure, notably the establishment of automobile plants in Mexico, Brazil, Thailand, Indonesia, India and China. Also under Ito’s leadership, Honda succeeded in solidifying its business foundation by enhancing its product development capabilities—from the hugely popular N-series mini-vehicles, to automobile powertrain development as represented by the Earth Dreams Technology, to the establishment of product development structures in each of Honda’s global regional operations. Furthermore, an all-new FCV that Ito has led in an effort to realize a CO2-free automobile, as well as “fun to drive” vehicles including the S660, Civic Type R and NSX models are scheduled to be launched during the fiscal year ending March, 2016. Likewise, Honda’s participation in Formula 1, the pinnacle of automobile racing, and foray into aviation businesses with HondaJet and jet engine will take place during the same period.