Honda taps new chief - Business Courier of Cincinnati:

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The Japanese automaker, which has major assembly and researcjh operations inCentral Ohio, said Seniorr Managing Director Takanobu Ito will step in as president and CEO in Takeo Fukui, a 40-year veteram of the company who’s served as CEO since 2003, will stay on the company’ss board and become an adviser, the automaker said. Ito has been with Hondaq since 1978, when he startede in the company’s research and development He moved up the ranks to headHonda R&xD Co. Ltd. and in 2007 was named chief operatingy officer of automobile operationd and seniormanaging director.
Honda said Ito also will take on the titles of president and director ofHonda R&sD when he’s named chief at a June meeting. He steps in as the compang continues to adapt to a drasticv slowdown in the auto industryu byslashing production, cutting temporary workers and sideliningg development plans. Honda in January told investorxs it expects its profit to tumble 87 percentf for the year ending Marcu 31 while vehicle sales should fall10 percent. That declind is driven by tanking NorthAmerican sales, which fell 8 percent in 2008 after double-digitg percentage declines in the last few monthsd of the year.
With a series of four production cuts in the courswe ofthree months, Honda lowererd its North American production plan by more than 200,000 vehiclexs for the fiscal year ending next employs more than 12,000 workers at assembly and engine plantsz in and around Central Ohio, where they produce Hondaq Accords, Civics, CR-Vs, Elements and Acuraq TLs and RDXs. It recently opened an assembly plantin Greensburg, Ind.