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Discussion Starter · #1 ·
Honda Motor president bowing out

Posted Feb 23rd 2009 2:19PM by Beth Gaston Moon



In yet another bit of news from the automotive industry, Honda Motor Company (NYSE: HMC) president Takeo Fukui announced today that he will be stepping down from his post in June after six years with the second-largest Japanese automaker.

Fukui is passing the torch to Takanobu Ito, who currently serves as chief of automobile operations. The 64-year-old Fukui said, about passing the job to his 55-year-old successor, "It is very important to have a generational change in management every few years." It will be a challenging post for Ito, who assumes the reins as Honda and the overall auto industry face falling sales. The company is expecting an earnings loss of nearly 90% this year to $860 million (but at least they are still hoping to turn a profit).

Putting it mildly, it has been a turbulent time in the auto industry. Toyota Motor Corp. (NYSE: TM) replaced its president in January. Mazda announced changes in management in November. And Nissan president has delegated some of his responsibilities of late. Meanwhile, on American soil ... well, we all know the saga the Big-Three is facing.
 

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Free Press said:
''After joining Honda in 1978, Ito began his career as an engineer designing chassis, the main part of an auto, and was in charge of developing the frame structure for the NSX sports car, which went on sale in 1990.

From 1998 to 2000, Ito served as executive vice president at Honda R&D Americas Inc., where he helped develop the first sport-utility vehicle under the Acura brand, Honda's luxury models. The MDX went on sale in the U.S. in 2000, according to Honda.''
That's what I like to see.....from Engineer to CEO in ~977,616,000 seconds. Something to strive for....just need to put in 31 years at the same company lol.
 

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Discussion Starter · #4 ·
there should be no changes for Nissan......

they're kickin ass. the only new cars I see on the road are nissans and boy, do they look nice
Nissan is sucking wind. I might be wrong, but Honda might be the only large Japanese manufactor that made a net profit last fiscal year.

Links from the last couple weeks:
Bloomberg.com: Japan
Nissan to tap European markets for cash | The Japan Times Online
Will Nissan's drastic actions be enough? | The Japan Times Online
Nissan freezes work on Chrysler OEM deal: media | Motoring | Reuters
 

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