The board of Directors of Suzuki Motor Corporation resolved in the meeting held on 8th June 2016 the change of Representative Directors and reduction of compensation of the management as follows;
The change of Representative Directors and reduction of compensation for management is to clarify the responsibility of the management against the improper conduct in application of driving resistance, different from regulations by the Ministry of Land, Infrastructure, Transport and Tourism (“MLIT”)
This is also to report that the Auditors of the company voluntarily waived a portion of their monthly compensation.
The change is to clarify the responsibilities of the management.
|Decline the position of CEO||Osamu Suzuki||Representative Director and Chairman (CEO)|
|Retire from Representative Director and Executive Vice President||Osamu Honda||"Representative Director and Executive Vice President"|
29 June, 2016 (subject to approval at the 150th Ordinary General Meeting of Shareholders scheduled on 29 June, 2016)
|①Representative Directors and Directors||: Fully waived|
|②Senior Managing Officers and Managing Officers||:Reduction of 50%|
|①Representative Director and Chairman||: Reduction of 40% for 6months|
|②Representative Director and President||: Reduction of 30% for 6months|
|③Representative Director and Vice Chairman||: Reduction of 25% for 6months|
|④Directors and Managing Officers in charge||: Reduction of 20% for 6months|
|⑤Outside Company Directors||: Reduction of 10% for 3months|
|⑥Auditors, except newly assigned auditors||: Reduction of 10% for 3months (Voluntary return)|
|⑦Senior Managing Officers and Managing Officers||: Reduction of 10% for 3months|