29 Dec '14, 4am

Takata president to step down, CEO to reclaim role

Takata president to step down, CEO to reclaim role

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 Invest...

Full article: http://paultan.org/2014/12/29/takata-president-step-down/

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