Grandson of Michio Suzuki, 60-year old Rick Suzuki, will resign his position as the Chairman of American Suzuki. In a letter to employees this past Friday, Rick Suzuki said he will step down “to bear responsibility” for the automaker’s poor sales and earnings.
He also wrote that the company will reduce its U.S. work force of 675 by 55 employees through voluntary retirement plan.
“With the recession in the picture, ASMC must anticipate further sales declines,” Suzuki wrote.
Spokesman Jeff Holland has confirmed the letter saying that Rick Suzuki has not given a timeline of when he will be stepping down. Suzuki has led American Suzuki since 1998.
The first time Suzuki ever topped the 100k mark in the U.S. was in 2006 with 100,990 automobiles. Last year, the automaker sold 101,884 units. Sales in the first two months of 2008 were down 5 percent to 15,920.
Leaving right before the 3 Kizashi concepts? Hmm, bad idea we guess.
Source: Automotive News (Subscription Required)
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