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Toyota says replacing Akio Toyoda as president and CEO

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Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt=" EPA-EFE/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/life/01/26/20230126-akio-toyoda-epa-efe.jpg"/><figcaption>Toyota Motor Corp. President Akio Toyoda speaks during a presentation at the Tokyo Motor Show 2019 in Tokyo, Japan, Oct 23, 2019. <em>Kiyoshi Ota, EPA-EFE/File</em></figcaption></figure></div><p>TOKYO - Toyota named Koji Sato as its new president, CEO, and operating officer Thursday, replacing third-generation chief executive Akio Toyoda -- who will become board chairman.</p><p>The Japanese car giant, currently the world&#x27;s top-selling automaker, said in a statement that the changes to its executive structure will be effective from April 1.</p><p>Toyoda, 66, became Toyota&#x27;s youngest president in 2009, as the firm returned to its family foundations after the global financial crash.</p><p>He is the grandson of company founder Kiichiro Toyoda. His father Shoichiro Toyoda also led Toyota in the 1980s and 90s.</p><p>After a bumpy start at the helm, he became known as a charismatic leader tasked with navigating a period of major upheaval for the auto industry.</p><p>He steered the group through a quality-control scandal that saw him apologize before the US Congress, and supply chain chaos caused by Japan&#x27;s 2011 quake and tsunami.</p><p>More recently, he has worked to strengthen Toyota&#x27;s ambitions in the key electric vehicle sector.</p><p>Incoming president Sato, 53, was previously the company&#x27;s chief branding officer, and president of its luxury Lexus brand.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/30/21/toyota-to-start-operations-of-p45-b-logistics-hub-in-batangas-late-2021">Toyota to open P4.5-billion logistics hub in Batangas late 2021</a></li>	<li><a href="https://news.abs-cbn.com/business/08/12/22/toyota-launches-new-company-focusing-on-mobility">Toyota launches mobility firm in PH, &#x27;first of it&#x27;s kind&#x27; in Southeast Asia</a></li>	<li><a href="https://news.abs-cbn.com/business/09/01/22/toyota-to-spend-53-billion-expanding-japan-us-battery-output">Toyota to spend $5.3 billion expanding Japan, US battery output</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1771251" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Toyota named its new president, CEO, and operating officer, replacing third-generation chief executive Akio Toyoda, who will become board chairman.