Toyota CEO and President Akio Toyoda to step down
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 stated Thursday.
Toyoda will turn into the brand new chairman of the board, whereas the present Chairman Takeshi Uchiyamada will proceed as a member of the board.
Toyoda, 66, is the grandson of the carmaker’s founder and has served as chief government since June 2009.
“I believed one of the simplest ways to additional Toyota’s transformation can be for me to turn into chairman in help of a brand new president, and this has led to at the moment’s resolution. Chairman Uchiyamada has lengthy supported me in all possible methods,” Toyoda stated in a webcast.
“On reflection, these 13 years have been a interval of struggling to outlive at some point after the following, 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
— Correction: This text has been up to date to mirror that Toyoda was referring to the corporate Toyota when discussing its transformation within the webcast.