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Report: Subaru to Shuffle Leadership after Regulatory Scandals
Subaru Corp. will replace its chairman, president and two other board members in June—at least six months earlier than originally planned, according to The Nikkei, which cites no sources.
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Subaru Corp. will replace its chairman, president and two other board members in June—at least six months earlier than originally planned, according to The Nikkei, which cites no sources.
The newspaper says Chairman Jun Kondo will step down and be succeeded by Subaru’s current president, Yasuyuki Yoshinaga. Corporate Vice President Tomomi Nakamura will succeed Yoshinaga as president.
The executive shuffle was prompted by two scandals late last year. In October, Subaru admitted it violated Japanese law by using unqualified workers to conduct final safety inspections of vehicles coming off production lines in Japan. Two months later the company launched a probe into suspicions that it had falsified fuel economy data.
Subaru attributed both transgressions to lax oversight during a period of strong earnings and has vowed to reform.
The company said before the scandals emerged that it planned to install a new generation of top executives in 2019. The Nikkei says the cheating has prompted the company to accelerate those moves.
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