Takata posted significantly higher quarterly profits this year, but its airbag inflator scandal continued to grow.
Takata CEO Shigehisa Takada will remain in charge of the auto supplier, which counters earlier rumors of his possible resignation.
Takata CEO Shigehisa Takada stepped in front of cameras, bowing deeply while issuing a public apology for his company's handling of its airbag recall.
With tens of millions of vehicles recalled, Takata has made several changes at its head office, including the resignation of its president, the promotion of its chairman and the appointment of several former US cabinet secretaries.
The problems plaguing automotive supplier Takata this year for its faulty airbag inflators are starting to take their toll. Not only do an estimated 7.8 million vehicles need repairs, but it's facing an investigation by the National Highway Traffic Safety Administration. A recent report also alleges that hidden attempts to fix the problem date back to as early as 2004. With all of this turmoil you might expect Takata's chairman, Shigehisa Takada, to be righting the ship, but the man is no where