Honda Motor Co Announces Toshihiro Mibe As New President & CEO

February 19, 2021 — TOKYO, Japan Honda Motor Co., Ltd. announced that at a meeting of the company’s Board of Directors held today, Toshihiro Mibe, currently the company’s Senior Managing Director, was named the next President and Representative Director, effective April 1, 2021. Mibe will succeed Takahiro Hachigo, the current President and Representative Director, who will become a Director, effective April 1, 2021.

Mibe is scheduled to become Director, President and Representative Executive Officer* (CEO) with the resolution of the Ordinary General Meeting of Shareholders scheduled to be held in June 2021, at which time Hachigo will retire from the company.

During the approximately six years since he ascended to the presidency in 2015, in the face of a period of great transformation of the company’s business environment, Hachigo took the initiative and formulated Honda’s 2030 Vision to enable Honda to become "a company society wants to exist" into the future. For the fulfilment of the company’s 2030 Vision statement – "to serve people worldwide with the joy of expanding their life’s potential" -- Hachigo led Team Honda on a course to "solidify existing businesses" and "prepare for future growth." Under Hachigo’s leadership, Honda has increased efficiency and strengthened its operating structure in the areas of production and product development. Moreover, by pursuing the "selection and concentration" of its corporate resources on a global basis, a solid foundation for the future was established, preparing Honda to take off in the new era.

Mibe, who is set to assume the presidency in April, joined Honda in 1987 and has been primarily focused on the research & development of automobiles, particularly powertrain development. In 2019, Mibe became the President and Representative Director of Honda R&D Co., Ltd., and since 2020, Mibe has been concurrently serving as Senior Managing Director of Honda Motor Co., Ltd.

In this transformational era, a new value system is spreading all around the world. Reflecting this direction, under the new management structure Honda will strive to achieve continuous growth and advancement by further enhancing its commitment toward solving social issues based on Honda’s belief that "the purpose of technology is to help people," which remains unchanged since the foundation of the company. Honda appreciates the high expectations people worldwide have for Honda which will grow and advance hand-in-hand with society.

*New title name in accordance with the transition to a company with three committees after receiving approval at the Ordinary General Meeting of Shareholders scheduled to be held in June 2021