The changes will be made final in June, after that month's shareholder meeting approves it. The management overhaul jettisons 9 executives from the board and adds one new member. According to the Japanese company, most of the execs that leave the board will take up more hands-on positions as operating officers.
Iwamura, president of American Honda Motor Co., the Japanese brand's U.S. subsidiary, will stay in his current position as head of American Honda and keep his current title of senior managing director at the main Japan company. However, things might not be as they appear at first glance, as this could underline Honda’s interest in the U.S. market by cutting its top man from the company board.
"It's a way to make decision making quicker. Regional operations people can concentrate on their regional responsibilities better," Honda spokesman Keitaro Yamamoto said.
Three of the executives leaving the board in June, including current CFO Yoichi Hojo, will be sent to preside over Honda-affiliated companies or suppliers. Hojo will head up suspension-maker Showa Corp and will be replaced as top financial boss by Fumihiko Ike.
Operating Officer Tsuneo Tanai, now COO in charge, will also leave the board and be appointed president of fuel-system supplier Keihin Corp. Current President Takanobu Ito will assume Tanai's role as direct head of the automobile unit. Ito also gets the title of CEO, a new position for Honda Motor Co.
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