Akio Toyoda to step down as Toyota president and CEO.
Toyoda, 66, will move to a position as chairman of the board of directors, replacing Takeshi Uchiyamada, who will stay on the board as a voting member.
Toyoda will be replaced by Koji Sato, who currently sits as Toyota's operating officer, chief branding officer, president of Lexus International, and president of Gazoo Racing. He will retain his operating officer title as he assumes the president and CEO positions, and be added as a member of the board of directors. Toyota has yet to say who will fill Sato's other current roles.
“I thought the best way to further Toyota’s transformation would be for me to become chairman in support of a new president, and this has led to today’s decision," Toyoda said in a translated webcast,Mr. Morizo in the racing community—is the grandson of Toyota's founder. He joined the board of directors in 2000 before being promoted to executive vice president in 2005. He moved into his current role in 2009, pioneering green tech while retaining his love for
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