Toyota names Lexus chief Koji Sato CEO as Akio Toyoda takes chairman role

Daily Current Affairs / Toyota names Lexus chief Koji Sato CEO as Akio Toyoda takes chairman role

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Category : Appointment/Resignation Published on: January 30 2023

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Toyota’s longtime president and CEO Akio Toyoda is stepping down and handing over the reins of the world’s largest automaker to Lexus chief Koji Sato.
Toyoda would be appointed chairman of the board as Sato takes over daily management.
Takeshi Uchiyamada, Toyota’s current chairman, will resign from his post but remain on the board, the company said.
The changes are set to take effect on April 1.
Sato began his career at Toyota in 1992, holding an executive role at Toyota before becoming chief engineer of Lexus International, a luxury auto brand of Toyota, in 2016 and becoming its chief branding officer in January 2021.