Toyota Motor Corporations’s new president Akio Toyoda, grandson of the company’s founder, is part of a new management team that includes four new executive vice presidents and eight new board members.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Toyoda’s promotion was confirmed at a board meeting following the annual shareholders’ meeting today (23 June) at which outgoing president Katsuaki Watanabe was named one of two new vice chairmen along with other management changes.
Toyoda had long been seen as a candidate to head the company founded by his grandfather in 1937 as he rose through the ranks at nearly twice the speed as his predecessor, Reuters noted.
Toyoda will supported by five vice presidents. Two key company elders – honorary chairman Shoichiro Toyoda (Akio’s father) and senior adviser Hiroshi Okuda resigned from the board and eight new officials joined the 29-member group.
In a move that Reuters said was seen as an attempt to balance the newly promoted with seasoned veterans, Toyota brought back Yoshimi Inaba, an “outspoken heavyweight” who left as executive vice president in 2007 to head an airport that Toyota helped build.
Inaba returned as a director to take charge of Toyota’s North American operations. Her previously headed Toyota Motor Sales USA, the Torrance, California-based sales arm, from 1999 to 2003.
Takeshi Uchiyamada, chief engineer of the first-generation Prius, remains as executive vice president but is switching his responsibilities from manufacturing to R&D and product management.
According to Reuters, Uchiyamada was among those who pushed for Toyota’s new Mississippi plant – originally planned to build the Highlander (Kluger) SUV, and then the Prius – and now on hold as the automaker struggles to fill unused capacity elsewhere and the US market picks up again.
Senior managing directors Yukitoshi Funo, Atsushi Niimi, Shinichi Sasaki and Yoichiro Ichimaru were promoted to executive vice president.
Funo, formerly head of operations in the Americas, will now oversee emerging markets such as China, Latin America and the Middle East.
Niimi will head manufacturing, Sasaki will be responsible for purchasing and quality, and Ichimaru will head Japan sales, administration and finance issues, Reuters said.
