Toyota has announced that Akio Toyoda is to step down as president of the company, having held the role since 2009. The appointments come as the company looks to maintain its leading position within the global automotive market and strengthen its electrification roadmap.
As the grandson of Toyota’s founder, Kiichiro Toyoda, Akio Toyoda will take on the the role of chairman of the board of directors. Replacing Toyoda as president will be Koji Sata, currently chief branding officer and head of the Lexus unit as well as Toyota Gazoo Racing.
Speaking following the announcement of his planned departure, Toyoda explained, “These developments were triggered by the pending resignation of chairman [Takeshi] Uchiyamada. I thought that the best way to further Toyota’s transformation would be for me to become chairman in support of a new president. This led to today’s decision.”
Sato has worked for Toyota for the past 30 years, and in his new position he will be responsible for overhauling the company’s electric vehicle strategy; the OEM currently has fewer EV models than competing vehicle manufacturers. It is taking a more cautious approach to electrification than many of its peers, while also pursuing hydrogen development across both FCEV and ICE platforms.
The leadership change will be effective from April 1, 2023.
