- Toyota appointed a brand new CEO right now, ending Koji Sato’s tenure after simply three years.
- Sato took over the job from Akio Toyoda, the grandson of Toyota’s founder, in 2023.
- The biggest automaker on the planet is placing a monetary knowledgeable behind the wheel for the primary time since 2009.
Toyota has a brand new boss. Koji Sato, who was appointed CEO in January 2023, will step down on April 1. His alternative is Kenta Kon, the corporate’s present chief monetary officer, who’s extensively considered one of many essential forces behind the automaker’s spectacular income.
The transfer marks the start of a regime change on the high of the world’s largest automaker, as that is the primary time since 2009 that Toyota has appointed somebody who just isn’t a automobile man on the helm.
The Toyota bZ Woodland EV was developed throughout Koji Sato’s tenure as CEO.
Picture by: Toyota
As a part of the reshuffle, Sato will tackle the roles of Vice Chairman and Chief Business Officer (CIO). In the meantime, Kenta Kon will turn into Toyota’s new President and Chief Govt Officer.
In line with the Japanese automaker, “underneath this new management construction, Sato will concentrate on the broader trade, whereas Kon will concentrate on inner firm administration.” Final month, Sato was additionally appointed the top of the Japanese Vehicle Producers Affiliation (JAMA), and has been serving because the Vice Chair of Keidanren (Japan Enterprise Federation) since Might of final 12 months.
Yoichi Miyazaki, who’s at the moment Toyota’s Working Officer (OO), will take Kenta Kon’s position of CFO on April 1, whereas additionally retaining his present place.
Throughout Koji Sato’s tenure, the automaker dug deeper into its “multi-pathway” powertrains methodand it paid off. Toyota went in opposition to the development when different automakers had guess huge on EVs, solely to face the tough realities of adjusting insurance policies and commerce obstacles. In the meantime, the Japanese automobile producer’s shares went up 111% underneath Sato’s management.
That mentioned, Toyota has slowly however certainly expanded its portfolio of all-electric autos and plans to proceed doing so within the coming years.
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