Status: 01/26/2023 09:26 am
The Japanese carmaker Toyota has announced a change at the top of the group: Akio Toyoda, longtime CEO and grandson of the company founder, will hand over the management to brand boss Sato on April 1st.
The Japanese carmaker Toyota gets a new boss. Akio Toyoda is stepping down as CEO. As the car company announced, the 66-year-old will take over the office of Chairman of the Board of Directors in the future.
Koji Sato, who has previously been responsible for the business for the luxury brand Lexus and the motorsport activities of the Toyota Group, is to become the new president of the company. The 53-year-old has been with Toyota since 1992.
Koji Sato takes over from Toyoda on April 1st.
Image: picture alliance/AP Images
Toyoda was once the youngest boss
Toyoda has been leading the car company since 2009, when he was the youngest boss Toyota ever had. He is the grandson of company founder Kiichiro Toyoda. His father Shoichiro Toyoda managed the car company in the 1980s and 90s.
The CEO must have youth, energy and strength, Toyoda said at a news conference. One of the tasks of the new management is to transform Toyota into a mobility company. Toyoda had already ensured that Toyota made large investments in mobility services.
The question of who should follow Toyoda had occupied investors for a long time.