In a surprise move, Honda Motor Co said on Monday that CEO Takanobu Ito would step down in late June after six years in the top post, and will be succeeded by 55-year-old Managing Officer Takahiro Hachigo. Japan's No.3 automaker has hit a rough patch over the past year with quality problems that have led to multiple recalls of its popular Fit hybrid subcompact. The ensuing years were no easier, as a disappointing launch of the Civic model caused many to question whether Honda had lost its edge. For the past three years, Ito has shaken up Honda's decades-old, tightly-knit supply chain as the automaker sought to trim costs and find more cutting-edge technologies.
via Business News http://ift.tt/1B4eiDr
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