Dec 24, 2014 5:17 AM

Airbag maker Takata revamps management

The Associated Press

TOKYO (AP) Takata Corp., the Japanese maker of airbags at the center of massive recalls in the U.S. and elsewhere, says its president Stefan Stocker is moving aside to give way to the chairman to take over.

Takata says in a statement that chairman Shigehisa Takada will take on the additional role of president of the company. Company spokeswoman Akiko Watanabe says Stocker will remain a board member in a move that is not intended to be a demotion.

Takada, Stocker and two other top executives of the company will take pay cuts ranging from 20 percent to 50 percent.

The defective airbags can explode with too much force, spewing shrapnel at drivers and passengers. At least 10 automakers have models with Takata driver and passenger airbags.


--  Dealing with the Disease of Addiction? Click here for help --

More from

NH1 News Debates
NH1 News Replay

NH1 on Twitter

NH1 SkyView Cameras

NH1 on Facebook

Check out NH1 News Rail Polls on LockerDome on LockerDome