Toyota CEO and President Akio Toyoda to step down

Akio Toyoda, president and CEO of Toyota Motor Corp.

Kiyoshi Ota | Bloomberg | Getty Photos

Toyota Motor Company’s President and Chief Govt Akio Toyoda will step down from his publish on April 1, to get replaced by present Chief Branding Officer Koji Sato, the Japanese automaker mentioned Thursday.

Toyoda will change into the brand new chairman of the board, whereas the present Chairman Takeshi Uchiyamada will proceed as a member of the board.

associated investing information

Barclays downgrades Sunrun, cites weaker demand outlook for residential solar energy


Toyoda, 66, is the grandson of the carmaker’s founder and has served as chief govt since June 2009.

“I assumed one of the best ways to additional Toyoda’s transformation can be for me to change into chairman in assist of a brand new president, and this has led to at present’s choice. Chairman Uchiyamada has lengthy supported me in all possible methods,” Toyoda mentioned in a webcast.

“On reflection, these 13 years have been a interval of struggling to outlive in the future after the subsequent, and that’s my trustworthy feeling,” he added.

Tokyo-listed shares of Toyota ended the session 0.63% decrease Thursday forward of the announcement.

CNBC’s Jihye Lee contributed to this story

#Toyota #CEO #President #Akio #Toyoda #step

Leave a Comment