According to a recent report from the Japanese Nikkei business daily, Suzuki Motor Corp’s Osamu Suzuki – who is the company chief executive officer and chairman – will name his son, Executive Vice President Toshihiro Suzuki as the new president.
The appointment, with the father relegating to his son part of his duties, would become effective July 1 and Suzuki, the fourth largest Japanese automaker, already announcing the two managers would be holding a news conference later on today in Tokyo to show new management structure changes and an updated business plan. Suzuki, 85, has been leading the automaker’s strategy since 1978 and on numerous occasions there have been crucial discussions on who and when he would be succeeded, impacting the investor interest in the manufacturer. Suzuki had initially tried to prepare as his eventual successor his son-in-law Hirotaka Ono, but his plan fell to pieces as the latter lost his life due to pancreatic cancer in 2007. Two other executives had fleeting mandates as presidents in the 2000s but they both resigned after just a few years, on health conditions.
Toshihiro Suzuki, the eldest son of the chief executive officer, was appointed as the carmaker’s one of four executive vice presidents in 2011, which led to increased rumors about him becoming the eventual holder of the top position. Suzuki, a specialist in small cars, has been relegated to a second-tier position on a global scale, as its main impact concerns Japan – a market prone to small cars – and India, where its Maruti Suzuki unit is the top manufacturer in the country.