Sato will become the new CEO while the current chairman, Takeshi Uchiyamada, will drop his chairman title but remain on the board, Toyota said.
The issue of who would take over from Toyoda, the 66-year-old grandson of the company’s founder, had increasingly been a focus for investors.“I myself was surprised. Ten out of 10 analysts had probably been thinking that Toyoda would carry on for a while, so that came as a huge surprise. I don’t know if now was the best timing for the change.”
“Probably the day-to-day management will not change. Having Akio Toyoda step away from being CEO may increase his symbolism within the company and it may be hard for the young, new president to really show his hand.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Toyota leader Akio Toyoda to step down as president and chief executiveToyota Motor Corp said on Thursday that Akio Toyoda will step down as president and chief executive to become chairman from April 1, and hand over the helm of Japan's biggest automaker to its top branding officer, Koji Sato.
Read more »
Toyota president Akio Toyoda to become chairmanToyota Motor Corp said on Thursday its president and chief executive officer Akio Toyoda will become chairman effective April 1.
Read more »
Toyota CEO and President Akio Toyoda to step downToyoda, 66, is the grandson of the carmaker's founder and has served as chief executive since June 2009.
Read more »
Toyota CEO Akio Toyoda to Step Down and Become ChairmanAkio Toyoda, a scion of the auto maker’s founding family, will hand over the reins to Koji Sato, who has led Toyota’s Lexus division.
Read more »
Akio Toyoda becomes Toyota chairman; Lexus boss now CEO | AutocarAutocar award winner and all-round petrolhead hero Akio Toyoda has stepped back as CEO of Toyota
Read more »