Honda's Leadership Shake-up: EVP Aoyama Resigns Amid Allegations

Honda Motor's Executive Vice President Shinji Aoyama has resigned following allegations of inappropriate conduct during a social event. Honda CEO Toshihiro Mibe will take a salary cut amidst the ongoing investigation. A new management structure is expected to be announced soon.

Honda Motor announced the resignation of Executive Vice President Shinji Aoyama amid allegations of inappropriate conduct at a social gathering. While details of the allegations remain undisclosed, the situation prompted swift action from the company's top executives.

In response to the seriousness of the matter, Honda CEO Toshihiro Mibe will take a 20% salary reduction over the next two months. This comes after a thorough investigation led by an audit committee, which also involved external opinions.

Aoyama, a long-standing figure at Honda since 1986, submitted his resignation as the board met to decide on disciplinary actions. Known for his roles as Chief Operating Officer and head of automobile operations, Aoyama's departure comes at a critical time, with the firm promising a new management structure announcement soon.

(With inputs from agencies.)