Amidst the airbag debacle, Takata Corp president Stefan Stocker is set to step down, with CEO Shigehisa Takada reclaiming the role, Reuters reports.
Stocker, 61, joined Takata from Bosch in February 2013 as an executive officer. He became Takata’s first foreign president four months later, taking over from Takada, 48, the company founder’s grandson.
According to Reuters, Takada will become president and retain his title as CEO and chairman, while Stocker, a Swiss national, will remain on the company board.
Neither has appeared publicly since a June shareholders meeting, but in response to the safety crisis, Takada, Stocker and three other senior staff will take a four-month pay cut – in Takada’s case, 50%.
“This company has done everything wrong and has zero corporate governance, and is one of the worst examples of poor management,” the news agency quoted Atlantis Investment Research, Tokyo president Edwin Merner as saying.
“Putting all the management back to the family sounds so negative. As long as they don’t have new management, this company won’t survive.”
Since 2008, more than 24 million cars have been recalled globally (including about 17 million in the US) over Takata’s faulty airbags, which can detonate with too much force, spraying metal shards at occupants.
At least five deaths have been linked to Takata’s airbags, including one in Malaysia in July that involved a 2003 Honda City. The Malaysian case was the first to involve the driver’s airbag – the others before were to do with the front passenger airbag.
Further reading:
Honda conducting internal testing on airbag defects, CEO Ito “angry” at Takata’s response – report
Takata recalls slowed by replacement airbag inflator shortages, poor response criticised by US lawmakers
Airbag-related recalls in Malaysia: is your car affected?
Honda Malaysia recalling 15,734 cars for driver airbag replacement – 2003-2004 City and 2004 Jazz involved
Honda says Malaysian fatality linked to defective Takata airbag – recalls widened, Civic included
Takata changes composition of airbag propellant, denies defects in original composition – report
Takata to be prosecuted in the US over exploding airbags, owners urged to fix affected cars immediately
Looking to sell your car? Sell it with Carro.
Talk about poor management, Bolehland…
This is the spirit of Japanese. Admitting mistakes, and perform actions. Unlike most of the ministries from Malaysia, “Oh…. Inshaallah, tidak apa… don’t give a single flying f*” upon any slipups.
Ehem… you need to read more up on this case. It’s a pretty bad case if you take it as a role model of “spirit of Japanese”.
Ministries of Malaysia, no comments on it, coz we all know.
Proton won’t fall before he falls.
If he falls, Proton won’t fall also, because the government hasn’t fallen.
The government won’t fall before all Malaysians fall.
Helo… this matter is serious… but hey, we have 1 fuxxking missing plane and another 1 got shot down…. what did the company and government clowns done so far?? Did they stepped down or apologized as they should do?? no…. so think with your brain, and talk with sense..
Congrats you only see company and gomen
So childish
Yeah, very japanese of them to put the blame on the mat salleh CEO and then sweep all the rubbish under the carpet. The problem existed since 2003 and the mat salleh only joined since 2013. The japanese who are worshipped by some segments of our people as the perfect people are truely faultless and sinless.
Atleast the federal goverment takes action. Unlike Kelantan MB. The reason he cant help cause his house also flood? Cant he use a sampan or a boat to help the rakyat instead of giving excuse? He should priorites the rakyat first.
In CG perspective, this doesn’t look good to the company. Yes, family member maybe prevent fraud or they will act as the interest of the company, but letting them sit as higher management which in this case, CEO and chairman (in other word no segregation of duties, no supervisory function, over power), that Takada would overlook and ignore the comments from the board and the shareholders, and act as what he thought is right, and this might bring the company to another worse stage. So… Japanese spirit.. Hmmm… Right or wrong, ur call
he should be punched by his own airbags explosion
Dude the Swiss fella still on the board! He just step down but still raking in all the $$$
Note that the ceo nsme’s … Tak-ada … that already marked a ‘good’ beginning :)