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The Japanese appear more willing to replace car companies CEOs as profits fall due to the troubled auto market. In the U.S., none of The Big Three has replaced its chief executive since the industry crisis began.
According to The Wall Street Journal, "Honda Motor Co (NYSE: HMC) said Monday that it appointed Takanobu Ito, a senior managing director, as new president and chief executive to replace Takeo Fukui." The departing CEO will get to stay on the board of directors. Just three weeks ago, Toyota (NYSE: TM) replaced its chief executive.
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