Portugal Colonial - Honda executive resigns over 'inappropriate conduct'

The incident occurred "during a social gathering outside of work hours", Honda said in a statement, without detailing the accusations made against Shinji Aoyama, who is also the company's director.

"It is deeply regrettable that an individual positioned as a leader in the management of the company, and who is expected to set an example for the respect of human rights... has become the subject of an allegation of conduct contrary to these principles," it said.

The firm's audit committee had investigated the incident and presented a disciplinary action plan to the board of directors, who were "scheduled to make a decision".

But Aoyama submitted his resignation letter before the board had made any move, the statement said.

"The Company's Board of Directors has determined that it is appropriate for Mr. Aoyama to resign from his position," it added.

Honda President Toshihiro Mibe will voluntarily return 20 percent of his monthly compensation for two months due to "the seriousness of this matter", the company said.

"The company sincerely apologises for any discomfort caused by such conduct, and for the significant disturbance and concern it has caused to all stakeholders."

H.Portela--PC