Baku - APA-Economics. Suzuki Motor Corp.’s Osamu Suzuki, one of the auto industry’s longest-serving leaders, said Wednesday he would give up his chief-executive title to atone for fuel-economy mismeasurement, the Wall Street Journal reported.
“I apologize once again for the trouble we caused,” said Mr. Suzuki said at a news conference. He will give up the CEO title at a shareholders’ meeting later this month, he said, but remain chairman to fulfill his responsibility to prevent a recurrence of the problem.
The company said Executive Vice President Osamu Honda will also step down to take responsibility, and announced cuts in executive compensation.
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