Several automakers have recalled the Japanese company's air bags because they can explode and send shards flying at drivers and passengers.

Takata said Angiolillo will work with the National Highway Traffic Safety Administration and other regulators to resolve problems with its air bags. For the past 34 years, Angiolillo worked at law firm Simpson Thacher & Bartlett LLP where he represented banks, investment firms and large corporations. He will start in his new position as general counsel of TK Holdings on Jan. 1, 2015.

"I'm honored to have been appointed to this important role at a time when Takata is clearly facing some challenges," Angiolillo said in a statement. "I am eager to help identify and pursue solutions that are in the best interests of the driving public and are fully aligned with our customers and regulators."

Last week, Takata announced it was reshuffling its top executives.