Suzuki CEO steps down over Fuel-Economy Scandal

In lieu of the infamous fuel-economy scandal that mired Suzuki Motor Corp last month, the company's CEO and Chairman, Osamu Suzuki, has decided to step down from his role as Chief Executive Officer. He will continue to be the company's Chairman. On the other hand, Osamu Honda, who was serving as the company's Executive Vice President, will retire.

The company has issued an official statement, commenting that the Vice President's retirement and Osamu Suzuki's CEO role exit will be effective from June 29, after it is approved by the company's shareholders at Suzuki's annual general meeting.

In May 2016, Suzuki Motor Corp officially revealed that it had used improper methods to determine fuel economy figures of its cars dating back to 2010. This revelation was made after Japan's Transport Ministry asked companies to have an internal investigation to check whether there were any economy test discrepancies. Suzuki admitted that it submitted fuel economy figures compiled from indoor tests, rather than the standardized vehicle coasting tests.

Japanese investigators had recently raided the company’s headquarters to probe the aforementioned efficiency test scandal.