Takata Slashes Executive Pay By 30% And Demotes President Over Airbag Issues

Takata is slashing the pay for its top executives and demoting its president as the Japanese firm faces an angry fall-out for selling defective, exploding airbags.

President and Chief Operating Officer Stefan Stocker is leaving both of those top roles and taking a 30% pay cut for four months. He'll stay with the company as a Takata executive director, according to a company spokesperson.


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MDarringer - 12/24/2014 12:39:53 PM

0 Boost

Too little. Too Late.

cidflekken - 12/25/2014 2:59:00 AM

+1 Boost

I don't know the law in this situation, but do the carmakers have a right to sue Takata? I can't imagine why they wouldn't be held liable for the cost of all these recalls and any revenue they generated from the initial sale these manufacturers. In essence, I'd be surprised if Takata even exists in a few months (if the car companies can/do sue).