Honda president to step down

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TOKYO. KAZINFORM - Honda Motor Co. said Monday that Takanobu Ito will retire as its president and become the automaker's adviser in June.

Honda Managing Officer Takahiro Hachigo will replace Ito as president. The appointment is subject to approval at its general shareholders meeting and subsequent board meeting in June. Ito, 61, took up his post in June 2009. Hachigo, 55, has supervised Honda's production in China since April 2013. The management shift comes as Japan's third-largest carmaker has seen its earnings suffer from repeated quality problems, including the global recall of cars equipped with potentially defective air bag inflators made by Takata Corp. Honda is the top customer of the Japanese supplier. Source: Kyodo

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