Former Managers Attempted To Replace The Honda Director

Just weeks after Honda announced the cancellation of three planned electric models for North America and posted losses of roughly $15.7 billion due to its electric vehicle strategy, CEO Toshihiro Mibe has been asked to resign, which he has refused. The company recently recorded its first annual loss in 70 years.

A new report reveals that a group of retired Honda executives began meeting in late 2025 to discuss issues plaguing the Japanese manufacturer. Over the course of several months, they blamed Mibe, particularly for his neglect of China and costly blunders with electric vehicles. According to Reuters, which spoke to two participants in those meetings, they even suggested that Mibe was more focused on Honda’s golf sponsorships than on the business itself. In April, Honda’s 90-year-old former CEO, Nobuhiko Kawamoto, visited the company’s headquarters and asked Mibe to resign, but he refused.

Mibe, who headed Honda until 2021, agreed to a 30 percent pay cut for three months in response to the company’s first annual loss in 70 years. According to those who have tried to oust him, Mibe has moved away from the “genbu” principles followed by his predecessors, which refers to the “real place” where key work is done – such as factories and showrooms. “The CEO doesn’t see what the situation is on the ground, he doesn’t listen to customers, and he doesn’t go to ‘genbu’,” sources told Reuters.

“The top management, including the CEO, does not visit key business locations. China is an obvious example.” Despite pressure from former directors, Mibe retained the support of the nominating committee. That board was established with more outside directors as part of a general trend in Japan toward better corporate governance and reducing the influence of retired executives.

• Also See: For The First Time In 70 Years Honda Made A Loss