On Monday, Honda Motor announced that it had accepted Vice President Aoyamajima’s resignation.
While Honda did not provide details regarding Aoyama’s troubling conduct, CEO Toshihiro Mibe indicated that the company would implement a 20% salary reduction for two months “due to the seriousness of the situation.”
Following the audit committee’s investigation into the allegations, which included formulating a disciplinary strategy and consulting external experts, Honda’s board was set to reach a decision regarding the disciplinary measures.
Aoyama tendered his resignation on Monday, and the board ruled that it was suitable for Aoyama to step down from his position, as stated by the company.
Reuters was unable to contact Aoyama for a response.
“It is deeply regrettable that leaders tasked with managing a company and expected to exemplify respect for human rights and adherence to pertinent laws and regulations face allegations of conduct contrary to these standards,” Honda expressed in a statement.
Aoyama joined Honda in 1986 and has recently occupied several high-level roles as one of the leading CEOs.
Honda, the second-largest automotive manufacturer in Japan after Toyota Motor, announced it will introduce a new management framework in response to this matter soon.
