Yoichiro Kaizaki, the chief executive officer of truck tire-maker Bridgestone Corp., said Thursday that he would resign in March, according to several news reports. Company Director Shigeo Watanabe will replace Kaizaki.In December, the Tokyo-based company said it would record a $750 million loss from its recall of 6.5 million Firestone tires installed on Ford Explorer sport-utility vehicles, the Wall Street Journal.com said. The company’s U.S. subsidiary, Bridgestone/Firestone, handled the recall.
Although Kaizaki said he was not leaving as a result the recall, he did say he made his move to retain investor confidence in the company. Kaizaki plans to stay on as a consultant to Bridgestone, the Associated Press said.
