Takata CEO Shigehisa Takada Says He Will Resign After New Management Takes Over, Shares Surge
June 28, 2016
Takata Corp.’s CEO announced Tuesday that he will resign after a “new management regime” is put in place, sending shares of the controversy-hit airbag manufacturer soaring.
The Japanese company has been at the center of the largest automotive safety recall in history, linked to its airbags installed in millions of cars across the world. Takata is dealing with over 100 million recalls worldwide, which are likely to cost the company billions of dollars. The defect has been linked to at least 13 deaths and more than 100 injuries have been reported worldwide.