10:01 am, January 27, 2023
Toyota boss Akio Toyoda is standing down as president and chief executive to become the automotive giant’s chairman.
It’s part of a major restructure affecting those at the top of the firm and will come into effect on April 1.
The 66-year-old, pictured above, is the grandson of Toyota Motors founder Kiichiro Toyoda and has been in charge of Toyota since 2009, after spending his career in various roles there.
The current chairman, Takeshi Uchiyamada, will become a board member when Toyoda takes over his role.
The new leader of Toyota will be Koji Sato, who is currently the chief branding officer as well as president of Toyota’s premium brand Lexus and its Gazoo motorsport division.
He has a tough task ahead of him as the brand tries to revitalise itself for an electric era – something it’s been slow to act on.
There are plans for 30 new Toyota and Lexus EVs by 2030, but they each have only one electric car for sale at the moment, lagging behind many rivals.
Sato, 53, is also tasked with transforming Toyota into a mobility brand as part of a wider automotive push to offer a more diverse range of vehicles.
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