During the change in power at Toyota Motor Corp. in June, Honda Motor Corp. will follow with its own change in leadership. Takanobu Ito, currently head of global automotive operations, will replace Takeo Fukui as CEO starting in June as the company faces tough economic times, declining sales and a strong yen.
Fukui, who is now 64-years old, has been CEO of Honda since 2003. Ito, 55, joined the Japanese automaker in 1978 working for its research and development department. He later worked on projects such as developing an all-aluminum unibody for the NSX supercar.
Fukui will remain on the board and will play advisor to Ito.
Akio Toyoda, grandson of the founder of Toyota, will become Toyota’s new CEO in June. He will replace Katsuaki Watanbe becoming the youngest CEO in Toyota’s history.