Toyota named Koji Sato as its new president, CEO, and working officer Thursday, changing third-generation chief govt Akio Toyoda — who will grow to be board chairman.
The Japanese automotive large, at the moment the world’s top-selling automaker, mentioned in an announcement that the adjustments to its govt construction shall be efficient from April 1.
Toyoda, 66, grew to become Toyota’s youngest president in 2009, because the agency returned to its household foundations after the worldwide monetary crash.
He is the grandson of firm founder Kiichiro Toyoda. His father Shoichiro Toyoda additionally led Toyota within the Eighties and 90s.
After a bumpy begin on the helm, he grew to become often called a charismatic chief tasked with navigating a interval of main upheaval for the auto business.
He steered the group by means of a quality-control scandal that noticed him apologise earlier than the US Congress, and provide chain chaos attributable to Japan’s 2011 quake and tsunami.
More not too long ago, he has labored to strengthen Toyota’s ambitions in the important thing electrical car sector.
Incoming president Sato, 53, was beforehand the corporate’s chief branding officer, and president of its luxurious Lexus model.
(Except for the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
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