Toyota Motor Company has announced the elevation of Koji Sato as the new President, while Akio Toyoda has been named the new Chairman.
Before the new role, Sato was associated with the company as the operating officer and Toyoda as the President for the past 14 years with TMC.
The top management change comes in due to Takeshi Uchiyamada’s resignation from April 1, 2023, as the Chairman.
Toyoda said, “I was appointed President immediately after our company’s fall into the red due to the global financial crisis.” He added that between the path toward short-term success or a quick victory and a path that leads back to the essential qualities and philosophies that gave us strength, “I chose the latter.”
On the appointment of Sato as the new President, Toyoda noted that he has worked hard in the workplaces of car-making to embrace Toyota’s philosophy, techniques, and practices. “To promote change in an era in which the future is unpredictable, the head of management must continue to stand on the front lines. For that, stamina, energy, and passion are indispensable. Being young is itself a key attribute,” he added.
Sato said, “I would like to show what kind of company Toyota should be through our cars. That’s what I want to do.” He noted that the new team, under the theme of “inheritance and evolution”, will implement product-centred and region-centred management while valuing the philosophy of our company’s founding and will endeavour to fully redesign Toyota into a mobility company.
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