He will replace Takahiro Hachigo, who has been the CEO post for six years.
Toshihiro Mibe is presently the head of the Japanese automaker's research and development (R&D) arm. Mr.Mibe would be later confirmed as president and representative director at an annual shareholders' meeting in June.
Mr.Seiji Kuraishi, Executive Vice President and Chief Operating Officer will remain in his post and support Mr.Mibe, the sources said. However, no information was available on whether Mr.Hachigo would retain a position at Honda. Mr.Mibe, 59, had joined Honda in 1987; and associated in a role involving engine development as well as managing powertrain and drivetrain businesses. He had a stint as an operating officer in 2014. Currently, he is in charge of intellectual property and standardization also.
Mr.Mibe had become Honda R&D president in 2019 and along with Mr.Hachigo, his predecessor had pushed forward for structural reform at the research unit with electrification in mind.
His predecessor, Mr.Hachigo had become CEO in 2015, although he had never headed the R&D, a trait typical for Honda CEOs.In that sense, his was a rare appointment for Honda. He was also at the forefront of restructuring plans with the objective of simplifying and improving efficiency in developing cars and seeking methods to reduce model variations and production costs. In his tenure, Honda had consolidated vehicle and motorcycle development operations, while the focus of the research unit was shifted to areas of new mobility and robotics platform.