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Wednesday, December 24, 2014

Takata cuts executive pay and demotes president over airbag recall - Dec. 24, 2014

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.


Takata cuts executive pay and demotes president over airbag recall - Dec. 24, 2014

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