Overview

• Shinji Aoyama, Honda's Executive Vice President, resigned following an allegation of inappropriate conduct during a social gathering outside work hours.
• Honda's audit committee investigated the allegation and proposed disciplinary action, but Aoyama resigned before the board reached a decision.
• The board accepted Aoyama's resignation, calling it an appropriate course of action in light of the situation.
• CEO Toshihiro Mibe announced a 20 percent salary reduction for two months as a gesture of accountability for the incident's impact.
• Honda issued a public apology to stakeholders and confirmed plans to announce a new management structure in response to the incident.