business

Honda CEO takes the fall for air bag fiasco

10 Comments
By ELAINE KURTENBACH

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"Honda CEO takes the fall for air bag fiasco"

Maybe a Takata air bag will break his fall.

0 ( +2 / -2 )

More likely to be the disruption caused by ignoring the existing supply chain and going outside of the Honda circle, looking for cheaper parts, but at the possible expense of lower quality. Some of the former Honda CEOs came by to warn him, as reported a few weeks ago on JT, but he did not listen.

2 ( +3 / -1 )

"the team requires a new, youthful leadership,” Ito said, according to a transcript provided by Honda. Hachigo is 55.

Only in Japan....

0 ( +2 / -2 )

Headline should read "Honda CEO takes the fall for Takata fiasco"

2 ( +2 / -0 )

I'm with Wunderlust on this one. Ito has been under the gun for a couple of years from vested interests both within Honda and its bloated supply chain. This Takata fiasco, where it appears that Honda were led up the garden path by their supplier, is just a convenient excuse. At the same time, however, its good to see that Honda are looking at the overseas business wing of their operations for a new CEO. The last thing the company needs would be some Oyaji from domestic sales.

2 ( +2 / -0 )

What's all this 'taking the fall' crap? He's just taking early retirement with a huge pile of money to go with it. It will also relinquish him of any further responsibility for the fiasco. All he is doing is stepping aside and putting his subordinate's head on the chopping block. They still have a long way to go with compensation and recalls. This fiasco is not over yet!

2 ( +3 / -1 )

The full-year profit forecast is still $4.6 billion!! So why is he stepping down? Have to love capitalism.

0 ( +0 / -0 )

So why is he stepping down?

ask a Vezel hybrid owner

0 ( +0 / -0 )

The full-year profit forecast is still $4.6 billion!! So why is he stepping down? Have to love capitalism.

He is not stepping down of his own accord, he is a victim of crony capitalism, which is the only kind of capitalism we have in Japan. Japan is a country of business relationships, a place where who you know counts much more than what you know. These relationships rig bids, fix prices, and manipulate the marketplace to squeeze consumers.

It is tragic for Japanese business, and it's future that Ito has left. The old fossils which inhabit the board rooms and back rooms still control everything, and even someone as big as the CEO of Honda is powerless to resist them.

3 ( +5 / -2 )

Hope he doesn't get a boo-boo because of the fall.

1 ( +1 / -0 )

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