Takata Corp. Chairman Shigehisa Takada on Tuesday said he will step down from his post in response to the ongoing global recall of air bag inflators blamed for at least 10 deaths and more than a hundred injuries in the U.S. alone.

Apologizing over the recall, which has reached 100 million units globally at a cost to Takata of ¥1 trillion, Takada said he will leave once the company has identified a road map to recovery.

"It is my role to pass on the baton," Takada told shareholders at their annual meeting in Tokyo.