Overview

• Shinji Aoyama, Honda's executive vice president, resigned following allegations of inappropriate conduct during a social gathering outside of work hours.
• Honda's audit committee investigated the allegations and prepared a disciplinary action plan, but Aoyama resigned before the board could act.
• The board of directors supported Aoyama's resignation, citing the seriousness of the allegations and his leadership position within the company.
• President Toshihiro Mibe announced a voluntary 20% reduction in his monthly compensation for two months as a gesture of accountability.
• Honda issued a formal apology to stakeholders and announced plans to introduce a new management structure to reinforce corporate governance.