Honda’s sports crisis forces historic decisions: Its president and CEO advances his retirement

Honda’s sporting crisis, both in F1 and MotoGP, is beginning to affect the legendary Japanese rigidity when making movements. Honda announced this Monday important changes that will affect its management leadership. Koji Watanabe, The current president and CEO of Honda, will transfer his powers upon retirement on January 1 to his already appointed replacement, the executive vice president, Keiichi Yasudaand it does so before the scheduled date.

The 62-year-old executive had planned to transfer his positions to his dolphin on April 1, the date traditionally chosen for executive replacements, but he is moving ahead to a more reasonable date at the Western level, the new year, and thus have his hands free from the beginning of the sports preseason for decision-making.

Watanabe had been leading Honda’s brand and media strategies, including activities related to Formula 1 and MotoGP, since 2020, when he assumed the positions of chief operating officer, director of brand and communications and general manager of the Corporate Communications Division.

His arrival to the presidency was the result of a major restructuring in April 2023 to relaunch his sports project, taking over as president of Honda from Shinya Wakabayashi. Watanabe has been a racing man, despite leading in a very delicate sporting moment for the golden wing signing. He was the one who opted to return to the Great Circus after a year and a half away and having already won the title as a motorcyclist with Red Bull and promoted the agreement with Aston Martin that at the moment brings more disappointment than joy.

His arrival to the presidency was the result of a major restructuring in April 2022 to relaunch its sports project, unifying the motorcycle and car divisions, replacing Shinya Wakabayashi as president of Honda. Watanabe has been a racing man, although he has led in a very delicate sporting moment for the golden wing firm. He was the one who opted to return to the Great Circus after a year and a half away and having already won the title as a motorcyclist with Red Bull and promoted the agreement with Aston Martin that at the moment brings more disappointment than joy.

His successor, Keiichi Yasuda, He joined Honda “moved by his admiration for the company’s culture and motorcycle racing, with the desire to work in the motorcycle sales division or at HRC, in Asaka,” the Japanese factory explained in its statement.

“He began his career in the human resources department at Honda headquarters and has since gained extensive experience in this field, including serving in Asia as president of a local motorcycle subsidiary, one of his most cherished ambitions. Most recently, as COO and head of the Human Resources Unit – the highest position in Honda’s HR division – he worked to drive human capital management forward. He was appointed executive vice president and representative director of HRC in April this year.”

And this is how they have detailed the reason for the early change in leadership on a date that was not planned: “This change in management is part of a planned periodic staff rotation, designed to strengthen the management structure in response to global transformation and accelerate business expansion for the next generation. Although in Japan these appointments usually come into effect on April 1, this time the effective date has been set for January 1, to adapt to the seasonality of motor sport and to be able to face the 2027 season with the new structure from the beginning. Under the new leadership, HRC will continue its efforts for bringing the excitement of racing to customers around the world.

Koji Watanabe, outgoing president, said that “it has been an honor for me to serve as president of HRC alongside some wonderful colleagues. I embarked on the project of integrating development into HRC racing when, in 2020, I became responsible for motorsports operations and communication as director of brand and communication operations at Honda.”

“Previously, HRC was a motorcycle racing company, and I integrated car racing into it. In 2022, I took on the role of president of the new HRC, unifying the motorcycling and motorsport activities. Since then, we decided on our return to F1, expanded our global motorsports structure by reorganizing HPD in the United States into HRC US and the creation of HRC UK, and working on building the global brand of HRC. During the three months that remain as president, I will continue to give my best, with the goal of achieving victory until the last moment.”

Keiichi Yasudahis successor, commented: “I see my mission as firmly inheriting the solid foundations built by Watanabe. To evolve them even further, to unite everyone’s efforts towards the single goal of winning in races and to make HRC even stronger. Drawing on my management experience as president of local entities abroad and my background in human resources, I will focus on investing in people and strengthening our organization for victory. I will dedicate myself to building an HRC whose challenges have echo among our stakeholders and motorsport fans, so that we can share the excitement of victory together.