The Strategist

Head of Kobe Steel steps down because of a scandal


03/06/2018 - 14:41



Chief Executive Officer of Kobe Steel Hiroya Kawasaki will resign in connection with the scandal about the falsification of data, which shook the Japanese manufacturing industry last year, reports Nikkei.



Head of Kobe Steel steps down because of a scandal
The third largest steel company in Japan, which supplies its products to automotive, airplane and train manufacturers around the world, last year admitted falsification of data on its products, thus breaking the global supply chain.

The reshuffle in management is part of the effort to stop one of the biggest industrial scandals in Japan lately, which struck the country's reputation for modernizing production.

However, the resignation of Kawasaki still leaves doubts in the corporate culture of Kobe Steel, as well as fears about possible fines.

Kawasaki will leave his place on the company's board in June. In addition, Head of the aluminum and copper division of Kobe Akira Kaneko will also step down.

He added that candidates for Kawasaki's place, who is also president and chairman of the board, remain questionable, and the company will announce staff changes later.

source: asia.nikkei.com




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