Honda President Ito to Step Down

Honda Motor Co. says President Takanobu Ito will be replaced in June by Takahiro Hachigo, currently a managing officer of the company.

Ito, who also was chief operating officer, will remain on the board as a director and advisor to the company. Hachigo, 55, will become president and CEO. The assignments will take effect at Honda's annual shareholder meeting in late June.

Ito, 61, exits a job he took on in 2009. His shepherded the company through the global recession and Japan's devastating earthquake and tsunami. More recently he has struggled with multiple vehicle recalls, most notably those involving cars equipped with defective Takata Corp. airbag inflators. Honda also has been criticized by U.S. safety agencies for failing to quickly report the Takata airbag problem.

Ito's critics, including some now-retired top executives, say his quest for lower costs through a more aggressive use of outside suppliers undermined the company's quality goals.

Hachigo was in charge of Honda R&D in the U.S. in 2004-2006 and later led Honda R&D globally. Subsequent assignments included manager of the company's Suzuka factory and head of Honda's European operations. In 2013 he was assigned to lead the company's development, purchasing and production activities in China.