TOKYO: Toyota Motor said on Thursday (Jan 26) that Akio Toyoda will step down as president and chief executive to become chairman from Apr 1, and hand over the helm of Japan's biggest automaker to the company's top branding officer. Koji Sato, 53, will become the new CEO, Toyota said. Representative direct
TOKYO: Toyota Motor said on Thursday that Akio Toyoda will step down as president and chief executive to become chairman from Apr 1, and hand over the helm of Japan's biggest automaker to the company's top branding officer.
The issue of who will take over from Toyoda, the 66-year-old grandson of the company's founder, has increasingly been a focus for investors. During his time, Toyota also came under fire from environmental investors and groups for what they said was a reluctance to embrace electric vehicles. At a shareholder meeting in June last year, Toyoda said he was"thinking about timing and the selection of a successor" when asked about succession planning."The CEO needs youth, energy, strength."
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