Suzuki Motor Corp Chairman Osamu Suzuki will step down from his role as the Chief Executive of the Japanese carmaker after the company admitted to misreporting fuel efficiency figures.
Suzuki Executive Vice President Osamu Honda, who also served as the Chief Technical Officer(CTO) will retire, taking responsibility for the research and development team at the heart of the testing scandal.
The changes will come into effect on June 29,2016 after after its annual shareholder's meeting. Suzuki also announced that they would be slashing bonuses given for 2016.
The company said that board members would choose the next CEO and that the top executive would be selected from among the board members themselves.
Suzuki is the second major Japanese carmaker caught up in the false mileage test scandal after Mitsubishi.