The 91-year-old chairman will leave the post at a shareholders' meeting slated for June and become an adviser, it said. Suzuki has served as either president, chairman or CEO of the company, known for its minivehicles and motorcycles, since 1978.
"I decided to give way to successors to promote a mid-term business plan," which the Hamamatsu, Shizuoka Prefecture-based company released the same day, Suzuki said in an online press conference.
He added that the company's 100-year anniversary last year also prompted his decision to step down from the chairman's post.
"I played golf 47 times last year and I am in good shape. Please don't worry," said Suzuki, shrugging off concern over his health.
The automaker said it will leave the chairman's position vacant.
Under the plan, Suzuki aims to achieve sales of
Suzuki joined the automaker in 1958 when he married into its founding family. He took the family name of his wife, the daughter of then President
Under his chairmanship, the company saw its consolidated sales expand sixfold from around
Suzuki played a crucial role as president when the automaker decided to team up with
"I did not have any foresight. (Our business) happened to go smoothly after abruptly landing in
Suzuki eventually took the lead in forming a capital alliance with
He stepped down as president in 2015 at age 85, when he handed the post to his son,
As part of efforts to strengthen its environmental technologies,
However, the Japanese carmaker terminated the partnership in 2015 following years of disputes over control of its management.
==Kyodo
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