Suzuki Motor Corporation’s iconic Chairman & CEO, Osamu Suzuki, has announced that he will be stepping down as CEO, taking full responsibility in an ongoing fuel cheating scandal. The 86-year old will remain as Chairman of Japan’s fourth largest auto manufacturer.
In a series of changes surrounding the company, Vice President Osamu Honda, the person behind the company’s technology division, will be leaving his position as well. All directors will receive pay cuts and receive no bonuses during this fiscal year through March 2017.
This follows the company’s confession last month they rigged the fuel economy test, where they used data gathered in a controlled indoor test environment instead of on the road. Suzuki claimed the strong winds in its testing facility located in a coastal area meaning it’s difficult to gather consistent data.
Osamu Suzuki has been with the company since 1958 and led for more than three decades. He also was in Malaysia last year to sign a strategic partnership with Proton. That said, the status of the partnership for both companies after this remains to be seen.