Honda Motor has just announced its new president and CEO, Takahiro Hachigo. Currently the company's managing officer, Hachigo will take over the role held by Takanobu Ito effective late June 2015.

Hachigo joined Honda in 1982, principally as a chassis engineer. Among the models developed under his charge are the first US-built Odyssey in 1999 and the second-generation CR-V in 2001. He has served as the operating officer of Honda R&D, and more recently as the president and director of Honda R&D Europe.

Current Honda president and CEO, Takanobu Ito, has had the top seat since June 2009. Under his leadership, Honda established new plants in Mexico, Brazil, Thailand, Indonesia, India and China. The six years also included the introduction of Honda's Earth Dreams Technology umbrella, new "fun to drive" models such as the upcoming S660, Civic Type R and NSX, and Honda's return to Formula 1.

Ito will remain on the board and assume the post of director and advisor to Honda Motor.