Suzuki Motor Corp said on Wednesday that its 91-year old chairman, Osamu Suzuki, is retiring in June.
“The corporate management direction toward 2030 and 2050 was defined. Therefore, with the expiration of the current term of office,” Suzuki will retire, the automaker said in a statement.
The chairman will be appointed as senior adviser upon retirement, it said.
Japan’s fourth-biggest automaker earlier said it was announcing a management plan later in the day.