Suzuki shares tumble after chairman reveals retirement plans

Indian subsidiary's shares also hit as automaker unveils 'modest' midterm plan

20210225 Suzuki Motor Chairman Osamu Suzuki

Suzuki Motor Chairman Osamu Suzuki has said he will retire later this year.  (File photo by Ken Kobayashi)

JADA NAGUMO, Nikkei staff writer

TOKYO -- Shares in Suzuki Motor plunged on Thursday to a nearly one-month low following the announcement that its long-serving chairman will retire later this year.

The decline points to investor concern over the carmaker's future business strategy and growth following the departure of charismatic leader Osamu Suzuki, who oversaw the company's expansion into one of the world's largest compact vehicle makers.

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