Honda Appoints New President

Honda Motor Co, Japan's second-biggest automaker, has named senior managing director Takeo Fukui as its new president, replacing Hiroyuki Yoshino in a regular reshuffle at the top.

Honda Appoints New President

Honda Motor Co, Japan's second-biggest automaker, has named senior managing director Takeo Fukui as its new president, replacing Hiroyuki Yoshino in a regular reshuffle at the top.

Yoshino's resignation had been rumoured for some time since he has been at the helm for well over four years, the typical tenure for a president at Honda. Fukui, 58, currently heads Honda's research and development unit, which often provides the president.

"I want to solidify Honda's global network by bringing our operations in North America, China and Asia fully up to speed," Fukui told a news conference.

Analysts said Fukui's appointment was unlikely to herald and major change in Honda's strategy.

Asked about the timing of the handover, Yoshino, 63, said he wanted discussions to begin soon over Honda's medium-term plans beyond 2005 and that he believed the next president should be involved from the start.

"There's still a lot left to be done - too much to mention," Yoshino, a 40-year veteran at Honda, told a news conference. But he said he was confident in Fukui's ability, citing his broad experience both at home and abroad.

Fukui served as president of the company's US production unit, Honda of America Manufacturing Inc, between 1996 and 1998. He has also worked in the area of motorcycle racing, devoting almost a decade to Honda's racing success, including the maker's first 500 cc class World Championship in 1983.

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