Leroy out-earned company president Toyoda by a considerable margin in fiscal 2017/18

Leroy out-earned company president Toyoda by a considerable margin in fiscal 2017/18

Didier Leroy, a Toyota Motor executive vice president and Toyota Motor Europe chairman (he's also president, business planning & operation, and chief competitive officer) was paid JPY1.026bn (about $9.37m) for the business year ended 31 March 2018, up 50% from the previous business year and far exceeding the earnings of company president Akio Toyoda, according to Japanese media reports, citing a financial statement disclosed this week.

The Yomiuri Shimbun said Leroy was the first Toyota executive to earn more than JPY1bn and that his compensation was the largest amount paid to a Toyota executive since the business year ending 31 March 2010 when listed companies became obliged to disclose the names of executives who received compensation of JPY100m or higher in a business year. Companies must also reveal the specific amount of compensation.

In contrast, Toyoda received JPY380m ($3.47m) for fiscal 2017/18, up 18% from the previous business year and his first increase in three years.

According to his TMC bio, Frenchman Leroy began his career with Renault in 1982 and was appointed plant general manager of the Douai Plant in April 1992. In April 1996, he was made deputy plant director of Renault's Le Mans plant. In September 1998 he joined Toyota Motor Manufacturing France (TMMF) as vice president, and then became president in January 2005. In June 2007, he was appointed managing officer of Toyota Motor Corporation (TMC) and, the following July, he was made executive vice president of Toyota Motor Europe (TME) and then became president in June 2010. In April 2011, he was appointed chief executive officer of the Europe region in TMC, and was made president and chief executive officer of TME. In April 2012, he became a senior managing officer of TMC. In April 2015, he was made president of business unit Toyota No. 1 at TMC, and was also appointed chairman of TME, and in June became an executive vice president and a member of the TMC board. In April 2016, he was made chief competitive officer. In April 2017, he added the title of president of business planning & operation.

The Yomiuri Shimbun said there is fierce competition to secure executives in the European and US auto industries, presumably leading Leroy to receive more than twice the executive compensation of the Toyota president.

Overall, five Toyota executives received JPY100m or more in executive compensation in the business year in question, one fewer than in the previous period.

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