Read more about Suzuki Motor s 91-year old chairman is retiring: Report on Business Standard. The firm s chairman, Osamu Suzuki, is retiring, the Nikkei newspaper reported on Wednesday
Suzuki Motor Corp said on Wednesday that its 91-year old chairman, Osamu Suzuki, is retiring in June. Suzuki, who served as the Japanese carmaker’s chief executive for 22 years and then as chairman for another two decades, will step down from his current role following a shareholders meeting in June, the company said in a statement Wednesday. The corporate management direction toward 2030 and 2050 was defined. Therefore, with the expiration of the current term of office, Suzuki will retire, the automaker said in a statement. The chairman will be appointed as senior adviser upon retirement, it said. Japan s fourth-biggest automaker earlier said it was announcing a management plan later in the day.
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The chairman, after heading the company for more than four decades that his wife s grandfather founded, is leaving his son Toshihiro Suzuki, already president and CEO, to hold the reins of the company. Osamu told he decided to retire after the company welcomed its 100th anniversary last year and the approval of its new management plan.