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Honda names Takahiro Hachigo as new CEO and president

Honda Motor Co. on Monday named a new chief executive with extensive international experience as it wrestles with the effects of mass recalls involving production glitches in new models and problems with air bags in older vehicles.

The Japanese auto maker said Takahiro Hachigo, currently a managing officer, will replace Takanobu Ito as president and chief executive in late June. Ito, who will become an adviser to the company and will remain on the board, has been chief executive since 2009.

In January, the car maker cut its profit guidance for the current fiscal year ending in March. The company cited an expected reduction in sales stemming from delays in new product rollouts and recall costs.

Honda 7267, -0.17% is the auto maker most affected by the recall of millions of vehicles equipped with potentially faulty air bags from Takata Corp. 7312, +0.15%which have been linked to at least six deaths. Auto makers and Takata have yet to pinpoint the cause of the problem, which can result in the air bags rupturing and shrapnel blasting into the interior of vehicles involved in collisions.

An expanded version of this report appears on