Honda Taps New President/CEO

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Honda Motor Co., Ltd. announced that Takanobu Ito, the company's senior managing director, will become the seventh president and CEO of Honda Motor effective in late June. President and CEO Takeo Fukui, will remain on the board and assume the post of director and advisor to Honda Motor.

Ito joined Honda in 1978, and began his career in its automobile research and development operations, principally as an engineer in the area of chassis design. From April 1998 to March 2000, Ito was stationed in the U.S. as EVP of Honda R&D Americas, Inc., where he became actively involved in the development of the Acura brand's first sport-utility vehicle, the MDX (which went on sale in the U.S. in October 2000).

In June 2000, Ito was appointed to the Board of Directors of Honda Motor, simultaneously gaining promotion to managing director of Honda R&D Co., Ltd. (Honda R&D). He subsequently became president and director of Honda R&D in June 2003. Ito also took on a role in the area of manufacturing as GM of Honda's Suzuka Factory in April 2005.

In April 2007, Ito became Honda Motor's COO of Automobile Operations and a senior managing director from June of the same year.

From April 2009, he will again assume the top position of president and director of Honda R&D, a position he will continue to hold concurrently after the successful appointment as president & CEO of Honda Motor.

Takeo Fukui assumed the position of president and CEO of Honda Motor in June 2003. Fukui joined Honda as an engineer in 1969, and became a member of the project team that developed the Honda CVCC (Compound Vortex Controlled Combustion) engine. Fukui also has extensive experience in the company's motorcycle development and racing operations. In 1988, he became a member of the Honda Motor Board of Directors, subsequently assuming responsibilities as GM of the Suzuka Factory, president of Honda of America Mfg., Inc., president and director of Honda R&D, and most recently, president & CEO of Honda Motor.

- Submitted by Guido Ebert