Honda CEO Takahiro Hachigo to step down, be replaced by R&D chief Toshihiro Mibe

TOKYO — Honda said CEO Takahiro Hachigo will step down and will be succeeded by¬†Toshihiro Mibe, the head of the automaker’s research and development arm, on April 1.

Hachigo will remain on the board, Honda said in a statement on Friday.

Mibe, 59, joined Honda in 1987, with stints in engine development and the drivetrain business. He became the president of Honda’s R&D unit in 2019, working with Hachigo to push through structural reforms.

Mibe’s appointment comes as Honda races to catch up in the field of all-electric cars and faces competition from new entrants and tech giants such as Tesla, Apple and Amazon.

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