Society | Feb 25

Suzuki Motor chairman to retire after leading firm for over 40 years

Suzuki Motor Corp. Chairman Osamu Suzuki will retire after leading the Japanese automaker for more than 40 years and making it into a global player with an overwhelming dominance in the Indian car market, the firm said Wednesday.

The 91-year-old chairman will leave the post at a shareholders' meeting slated for June and become an adviser, it said. Suzuki has served as either president, chairman or CEO of the company, known for its minivehicles and motorcycles, since 1978.

"I decided to give way to successors to promote a midterm business plan," which the Hamamatsu, Shizuoka Prefecture-based company released the same day, Suzuki said during an online news conference.

Under the plan, Suzuki aims to achieve sales of ¥4.8 trillion ($46 billion) in fiscal 2025, up from ¥3.49 trillion in fiscal 2019, and widely expand its electrification of vehicles from 2025.

Suzuki joined the automaker in 1958 when he married into its founding family. He took the family name of his wife, the daughter of then President Shunzo Suzuki.

Source: ANNnewsCH

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