Suzuki boss will retire after almost 5 decades with the firm

Osamu Suzuki joined the company in 1958. He became the President and CEO of the company in 1972 and has been one of the longest serving CEOs and Chairmen in the automobile industry.

Osamu Suzuki, Chairman of Suzuki Motor Corporation, will step down from his position to retire in June 2021. The 91-year-old will hand over the reigns to his son Toshihiro but will continue in an advisory role.

Osamu Suzuki joined the company in 1958. After moving up the ladder, he became the President and CEO of the company in 1972 and has been one of the longest serving CEOs and Chairmen in the automobile industry.

In 2016, the company appointed his son Toshihiro as the CEO. Osamu has also been a director of Maruti Suzuki India since 2002. He played a key role during the launch of Maruti 800 which made the company a market leader in India. Currently, Maruti Suzuki enjoys a 50% market share in India.

It is said that Suzuki will step down to make space for a new leader to tackle the new phase of electrification and competition from companies like Apple and Tesla. The firm also plans to invest over 1 trillion yen into electrification over the next 5 years.