One of Honda's most senior executives resigned over allegations he’d engaged in inappropriate conduct during a social gathering outside of work hours.
Honda’s audit committee investigated the accusations against Shinji Aoyama, an executive vice president and board director, and compiled a disciplinary action plan, the company said Monday. Aoyama, 61, submitted his notice of resignation before the board acted.
"It is deeply regrettable that an individual positioned as a leader in the management of the company, and who is expected to set an example for the respect of human rights and compliance with relevant laws and regulations, has become the subject of an allegation of conduct contrary to these principles,” Honda said in a notice to shareholders.
Honda CEO Toshihiro Mibe will voluntarily return 20% of his monthly compensation for two months, and the carmaker said it will soon announce a new management structure in response to the matter.
Aoyama was one of two executive vice presidents ranking just below Mibe, 63, who’s been CEO since 2021. Aoyama had spent his career with the Tokyo-based company, joining in 1986. His previous roles included leading Honda’s motorcycle business, its North American operations and its electrification efforts.
Honda is Japan’s second-most valuable automaker, with a market capitalization of ¥6.36 billion ($43.5 million). The company was in talks to combine with Nissan until the two called off negotiations in February.
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