Astemo announced on 29 May that it had decided on a top-management appointment under which Honda Director Inoue Katsufumi (井上 勝史) will become president and CEO effective 1 July. President and CEO Takeuchi Kohei (竹内 弘平) will retire. Against the backdrop of a review of the ownership stakes held by Honda and Hitachi, the new structure will provide full support for rebuilding the automobile business.
Astemo, an auto-parts manufacturer invested in by Honda and Hitachi, announced on 29 May that Inoue Katsufumi (井上 勝史) is slated to become president effective 1 July. The appointment is expected to be formally approved following a shareholders' meeting and an extraordinary board meeting, while current president Takeuchi Kohei (竹内 弘平) will retire.
Inoue has served as head of Honda's operations in Europe and China, headed the electric-vehicle business development division and held positions including head of the automobile business operations division. He became head of the automobile business operations division in April last year, but his retirement as a director was decided in June.
Honda plans to acquire Hitachi's 21% stake in Astemo, raising its ownership to 61% and making Astemo a subsidiary. Astemo is strong in SDV and electric-vehicle powertrain technologies, and Honda plans to strengthen cooperation after highly evaluating the company's technological capabilities.
The management change is intended to establish a structure that will provide full support as an affiliated supplier for the rebuilding of Honda's automobile business, leveraging Inoue's practical experience.
President Takeuchi, who joined Astemo from Honda, has used his experience in finance and administration to oversee improvements to Astemo's financial position and preparations for a public listing.