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Honda's CEO Is to Step Down; Successor Named
 Date: April 22, 2003 07:33
 Submitted by:  JeffX
 Source: Wall Street Journal
 Credibility Rating: Not Specified


Today's Wall Street Journal is reporting that Honda's president and chief executive officer, Hiroyuki Yoshino, is stepping down and will be succeeded by Takeo Fukui, a senior managing director in charge of Honda's research and development.

This move was widely anticipated in the industry, as the 63-year-old Mr. Yoshino has served as CEO for 5-years.

The transition comes at a time where Honda faces stiff competition in its two largest markets of Japan and the US.

Mr. Fukui is responsible for having led the development of one of Honda's most successful recent launches, the subcompact Fit model.

The management changes go up for shareholder approval in June. Following approval, Mr. Yoshino will move into an advisory role.
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