Takata CEO to resign once ‘new regime’ is in place

Takata Honda NSX

Despite the global airbag scandal that has affected various carmakers and caused deaths, with the latest fatality happening in Malaysia last week, Takata Corp’s CEO Shigehisa Takada has not left his post. He will only resign after a “new management regime” is found, Reuters reports.

Takada, described by the report as a quiet, bookish presence in contrast to his gregarious, hands-on father who previously headed the company, is the first member of the founding family to take public responsibility. He apologised for the scandal last year, but has also defended the company’s products.

“I am not clinging to this. My role is to make sure the company does not take a bad turn until there is a passing of the baton,” Takada told an annual shareholders meeting, where he came under fire for failing to deal more effectively with the crisis. It was said that the shy and awkward Takada often mumbled, apologising for his inadequate responses. He was also barely audible when answering questions. The third-generation leader of the company has been at the helm since 2011.

Takada said details of the management changes would be determined by a third-party committee charged to oversee the company’s restructuring. The committee, which has brought in investment bank Lazard, said last month that it would reform governance and resolve cost issues brought about by the recall.

Honda airbag

Takata, one of the world’s largest suppliers of vehicle safety parts, has been searching for a financial backer to help it overhaul the business and shoulder ballooning costs. Up to 30 potential investors have indicated initial interest, and a solution is expected by November, it has been reported.

Takata posted its third annual loss in four years in the past financial year, with shares down by some 90% since early 2014. The Japanese company, which started in 1933 as a textiles maker, is struggling to supply enough replacement inflators, as around 100 million units have been classified as defective.

It has been pointed out that the recall costs for Takata have been relatively small as automakers have shouldered most of the burden, so far. If Takata was found to be solely responsible for the fault, it could face a bill of more than US$10 billion, based on a rough calculation that each replacement kit costs around US$100. The company also faces US lawsuits.

Which models in Malaysia are involved in the multi-brand recalls, and what to do if your car is affected? Full details here for you to take action immediately.

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Danny Tan

Danny Tan loves driving as much as he loves a certain herbal meat soup, and sweet engine music as much as drum beats. He has been in the auto industry since 2006, previously filling the pages of two motoring magazines before joining this website. Enjoys detailing the experience more than the technical details.

 

Comments

  • My salute to the jepunis overlord for taking the responsibility. What about our Proton CEO?

    Like or Dislike: Thumb up 25 Thumb down 24
    • Albert on Jun 28, 2016 at 6:24 pm

      Datuk Jonny
      The Japanese gomen stop bailing out giant corporations for quite some time now.
      They stand tall,got to survive on their own.
      Protong CEO …..well six figure salary,got driver to ferry him around in Pondana,all night long partying in six star hotels….you think he will resign ?
      By the way,the other day ,I ask a Protong salesman why they cant display the Hondana at their showroom.
      The reply ” Banyak QC problem.Production dah slow kerana new CEO wants perfection,like Tun.”
      The new CEO is a perfectionist,but the deadwood at Protong still take it easy,relax.

      Like or Dislike: Thumb up 7 Thumb down 0
    • So any bashers screaming why Nippon authorities no take action, or arrest this man, or kolos shop, or their workers need to seppuku in front of live TV camera? No? Cannot persoal our jepunis overlords? But we can bash Gov for not doing anything?

      Like or Dislike: Thumb up 12 Thumb down 15
      • notakata on Jun 29, 2016 at 12:12 pm

        So what? It’s normal to burst fire in accident moreover when is hard collision.

        But it ‘s not when shrapnels go out from airbags to kill pipu.

        Like or Dislike: Thumb up 11 Thumb down 12
        • Proton BBQ on Jun 29, 2016 at 12:46 pm

          Did you read the article? Exora killed the man with fire. And what did Proton do? Nada. The CEO is still sitting happily receiving paycheques then

          Like or Dislike: Thumb up 4 Thumb down 2
      • Dun make me show u the vios power window on faiya! Thats lagi keng

        Like or Dislike: Thumb up 5 Thumb down 4
        • john otak batu on Jun 29, 2016 at 3:11 pm

          Show me a pic, john. I dare you

          Like or Dislike: Thumb up 3 Thumb down 0
        • Show me first the polis report that points the cause of fire is due to P1 design fault, then I show u power window faiya

          Like or Dislike: Thumb up 0 Thumb down 4
        • Albert Yong on Jun 29, 2016 at 11:51 pm

          john is a kura-kura, don’t dare to walk the talk. You want to show? Show lah but i bet you don’t dare

          Like or Dislike: Thumb up 1 Thumb down 0
    • Ultra2Disk on Jun 28, 2016 at 7:51 pm

      I’m not defending Proton but base on formula ” most honorable action ” that
      ” I will resign INSTANTANEOUSLY after a isu, scandal, cases that hit me and I admit and responsible on this ”
      BUT I DON’T THAT HAPPENING.
      Eh :v This Japanese/Asian.
      How long Takata Airbag Scandal ? This issue has occur over stretch a years.
      I still remember Takata have been prosecuted in US and Fatality has happen in Malaysia around 2014.

      Like or Dislike: Thumb up 2 Thumb down 1
    • Perrrhhh on Jun 28, 2016 at 10:41 pm

      Oi you donno that proton ceo is the most creative in the world?

      Like or Dislike: Thumb up 3 Thumb down 2
      • Proton CEO on Jun 28, 2016 at 11:33 pm

        Biasalah bang, ni syarikat Proton

        Like or Dislike: Thumb up 5 Thumb down 1
      • Apa kebanggangan does this have to do with P1? Trying to hard to plotek plotek ur jepunis overlords ke?

        Like or Dislike: Thumb up 5 Thumb down 7
        • john otak batu on Jun 29, 2016 at 1:01 pm

          The man already offered to resign. What is there to protect? Are you trying hard to protect the CEO who’s still sitting at his high horse office?

          Like or Dislike: Thumb up 5 Thumb down 1
          • Resign?! Heck! If this was P1, u will be screaming for BN Gov to arrest him and his famili and lock them up forever, otherwise u accuse BN of being in cahoots with P1.

            So now will u say Abe is in cahoots with Takata cuz Nippon authorities r not arresting him? Ada bola to persoal ur jepunis overlords?

            Like or Dislike: Thumb up 0 Thumb down 2
      • Kunta Kinte on Jun 29, 2016 at 8:00 am

        Proton CEO will say it is the right of Proton workers to keep on working and sleeping on the job. Just like MAS Union boss has said and what Perkasa also has said.

        Now you know why Proton is doing badly. Probably so many sleeping on the conveyor belt and assembly plant. The same with MAS, planes go missing because instead of repairing and maintaining the planes, hangar people are sleeping.

        Like or Dislike: Thumb up 8 Thumb down 2
    • Albert Peria on Jun 29, 2016 at 8:31 am

      Why link Proton here? Are you sick john?

      Like or Dislike: Thumb up 4 Thumb down 5
  • Albert on Jun 28, 2016 at 6:15 pm

    Mr.Takada ,
    You should step down now.Tomorrow,as compensation for Honda affected car owners in Bolehland,DRB is sending Protong’s CEO.He is facing the chop,due to massive retrenchments after Raya.Give him a decent job.He can surely turn around Takata,with US 10 Billion dollars bailout by your Japanese Gomen.

    Like or Dislike: Thumb up 2 Thumb down 0
  • Resigning is not an option. He should hara kiri for causing so many casualty.

    Like or Dislike: Thumb up 6 Thumb down 0
  • Suzuka Mayojita on Jun 28, 2016 at 8:14 pm

    No death penalty?

    Like or Dislike: Thumb up 3 Thumb down 0
  • Semi-Value (Member) on Jun 28, 2016 at 9:00 pm

    thats the problem with japanese work culture, im sure the engineers knew about this, but the hierarchy caste system probably shoo them off in fear of a major collapse and self pride prevent them from admitting to any errors, well, disaster it has happened…..situation could probably be worse if takata was malaysian

    Like or Dislike: Thumb up 7 Thumb down 1
  • how about p1 & p2? what air bag are they using? never heard call back from them?

    Like or Dislike: Thumb up 0 Thumb down 0
    • P1 uses autoliv airbags. Brand is from sweden.

      Meanwhile P2 uses takada airbags. Cuz memang tak ada!

      Like or Dislike: Thumb up 21 Thumb down 4
      • What airbag is Perdana using?

        Like or Dislike: Thumb up 3 Thumb down 0
        • Rich pipu KO so dun care. At least us peons sagas, personas, Gen2s, satrias, exoras, preves, suprimas, & irizes uses non-killing airbags. So syukurrrr

          Like or Dislike: Thumb up 4 Thumb down 3
          • If you think like this, you must be sick, john

            Like or Dislike: Thumb up 5 Thumb down 1
      • Sure? There are 2 airbags in my in-laws myvi

        Like or Dislike: Thumb up 0 Thumb down 0
  • Asians on Jun 28, 2016 at 11:37 pm

    Did Japanese government punish their home-grown company – Takada for their “Murdered” of 2 death cases in Malaysia?

    Like or Dislike: Thumb up 3 Thumb down 0
  • civic owner on Jun 29, 2016 at 12:13 am

    be mature when comment , why must put proton name in this issue , use common sense to say la John , don’t show ur stupid

    Like or Dislike: Thumb up 14 Thumb down 3
  • azrai on Jun 29, 2016 at 8:01 am

    Remember this words, “Never retreat, never surrender.”

    Like or Dislike: Thumb up 1 Thumb down 1
  • azrai on Jun 29, 2016 at 11:15 am

    Malaysian branches of car company Honda have to wait almost 14 days for a new batch of Takata airbags from Japan.

    A spokesperson at the car manufacturer’s sales and service cente in Klang Valley told FMT this was for safety reasons as the product is not allowed to be shipped by air and can only be brought in by sea.

    “The goods cannot be shipped by plane because of the high pressure. They have to be brought in by sea, which takes around 14 days.”

    According to the Honda representative, who spoke to FMT on condition of anonymity, calls have been flooding in from those requesting for maintenance and this had caused the centre to face workforce shortages.

    “Since Sunday’s fatality, the issue of Honda’s malfunctioning airbags has become widely spoken of.

    “Whenever something like this happens, people will start panicking and start making appointments. But we have limited staff and time.

    “That is also why there has been a delay in our service.”

    Like or Dislike: Thumb up 0 Thumb down 0
 

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