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May 5, 2017
U.S. DOJ Appoints John Buretta as Independent Monitor for Global Operations of Takata

On April 27, 2017, the U.S. Department of Justice appointed Cravath partner John D. Buretta as the independent monitor of the global operations of Takata Corporation, headquartered in Japan. John’s selection as independent monitor follows Takata’s guilty plea agreement with the DOJ concerning fraudulent conduct in sales of defective airbag inflators, under which the company agreed to enhance its global corporate compliance program with the supervision of a DOJ-appointed monitor. In December 2015, John was selected by the U.S. Department of Transportation’s National Highway Traffic Safety Administration as the Independent Monitor for Takata and the Coordinated Remedy Program, as part of a settlement agreement with monitoring oversight of TK Holdings, Inc., Takata’s U.S. subsidiary, and of numerous auto manufacturers affected by the Takata airbag recall. NHTSA has described the recall as the largest and most complex in U.S. history. John continues to oversee TK Holdings’s safety and compliance programs and the numerous automakers affected by the Takata recall.

John, whose prior experience includes serving as a senior official overseeing the Department of Justice’s Criminal Division, will serve as independent monitor for a term of three years, during which he will report to the DOJ and supervise the implementation of Takata’s internal controls and an enhanced corporate compliance program to ensure compliance with legal and ethical obligations under the terms of the settlement.