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Suzuki CEO steps down amid mileage test storm

Osamu Suzuki will however continue to be a member of the board of directors of Maruti Suzuki; executive VP Osamu Honda to retire

Osamu Suzuki

Reuters  |  Tokyo 

Suzuki Motor Corp patriarch Osamu Suzuki is stepping down as chief executive and the Japanese automobile maker promised to cut executive pay and slash 2015 bonuses, hoping to draw a line under the bruising admission of major flaws in its fuel tests. Japan's No. 4 automaker by sales said in May it had used the wrong methods to calculate mileage for models going back to 2010, widening a mileage testing storm that had already rocked smaller rival Mitsubishi Motors Corp. Those followed accounting scandals at Olympus Corp and Toshiba Corp, prompting criticism from some investors that the ...

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First Published: Thu, June 09 2016. 07:49 IST