Takata's President Stefan Stocker Resigns over Airbag Scandal
Oncars India | Dec 26, 2014, 12:29 PM IST
The president of embattled Japanese auto parts maker Takata Corp. stepped down over an airbag scandal linked to at least five deaths that have sparked the recall of millions of vehicles. The company also announced pay cuts for top executives, who have faced a barrage of criticism for remaining largely silent on the brewing crisis, amid claims that the firm hid evidence of the defects for years. Stefan Stocker resigned from his post but will stay on the company's board, while Chairman Shigehisa Takada will take on the Swiss executive's role, in addition to his current job.
