TOKYO — Honda mentioned CEO Takahiro Hachigo will step down and shall be succeeded by Toshihiro Mibe, the top of the automaker’s analysis and improvement arm, on April 1.
Hachigo will stay on the board, Honda mentioned in a statement on Friday.
Mibe, 59, joined Honda in 1987, with stints in engine improvement and the drivetrain enterprise. He turned the president of Honda’s R&D unit in 2019, working with Hachigo to push by way of structural reforms.
Mibe’s appointment comes as Honda races to catch up within the area of all-electric vehicles and faces competitors from new entrants and tech giants akin to Tesla, Apple and Amazon.