Suzuki Motor Corporation recently witnessed a series of events that left everyone awestruck. The current 85-year old CEO of the company, Osamu Suzuki named his eldest son, Toshihiro Suzuki as the new president of this corporation.
The announcement of Toshihiro Suzuki as the president of one of the largest automakers of the country deemed the interest of investors and drove it in a positive manner as there was a boost of 5% recorded in the share prices after the announcement of this news. It is evident that Toshihiro Suzuki was the executive vice-president and would take over the position of President and Chief Operating Officer of the company effective today. On the other side, Osamu Suzuki remains the chairman and CEO of the Corporation.
Osamu Suzuki has been leading the company on the path to success since 1978 and there always had been a dilemma as to who would be capable enough to succeed him in this regard. There have been a couple of other executives who held the position of the president in the 2000s but resigned in just a few years due to health conditions.
Toshihiro was included in the list of four executive vice-presidents in 2011, after which, the rumour hit the market that he will be the one who succeeds the very successful CEO of the company.
Yasuhito Harayama, who held the position of Executive Vice President, will now take care of the responsibilities as the Vice Chairman of the company.
At the time of closing of the market on the day this news was announced, the new targets of the corporation were also announced which included boosting up the sales to 3.4 million vehicles in the year by the end of March 2020.
