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Japanese carmaker Honda is replacing its president, Takanobu Ito, with Takahiro Hachigo, another Honda executive.

Honda recently had to recall millions of vehicles which were equipped with Takata airbags, some of which exploded.

Injuries and at least five deaths have been linked to the problem.

Earlier this year, Honda reported a sharp drop in third-quarter earnings and cut its profit forecast following the vehicle recall.

A wide range of carmakers use Takata airbags, but Honda has been the worst affected.

along with a number of other management changes and the statement did not mention the airbag issue.

Honda has been fined a record $70m by the US authorities for not passing on more than 1,700 complaints and for not reporting warranty claims.

Mr Ito joined Honda in 1978 as an engineer. He has been president and chief executive since 2009.