Mazda to cut salaries of 18 executives

December 26, 1990|By Dow Jones

Mazda Motor Corp. said today it has decided to cut the salaries of 18 top executives by 5 to 10 percent for 1991's first three months in connection with the handling of defective cars.

The cuts for Chairman Kenichi Yamamoto and the others were decided one day after the transport ministry warned Mazda to pay stricter attention to the safety of its cars, said a Mazda official, speaking on condition of anonymity.

After the warning, Madza notified the ministry yesterday that it would recall 3,498 Luce model passenger cars produced between Aug. 8, 1986, and Jan. 31, 1987, because of switch defects in their stop lights and cruise control mechanisms. Of the cars to be recalled, 134 were exported to Middle Eastern countries. The others were sold in Japan.

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