Toyota changes its executive structure and its board of directors. Most notably, Akio Toyoda will no longer be the chief executive of the automaker, but will become the chairman of the board.
Toyoda has been president and CEO of Toyota for 13 years. Koji Sato will be the automaker’s new CEO. He is currently the brand director of the automaker, international president of Lexus, boss of Gazoo Racing.
“I’m a carmaker, through and through. I believe that’s how I succeeded in transforming Toyota. However, a carmaker is all I am. And I see that as my own limit. Future Chairman Sato’s new team is on a mission to transform Toyota into a mobility company,” Toyoda said of the leadership change.
Technically, these changes will not come into effect until the general meeting of shareholders on April 1, 2023.
Toyota recently announced that it hopes to build 10.6 million vehicles in 2023. However, suppliers have informed the company that they expect to have parts for 10% less volume than ideal production.
Toyota aims to be carbon neutral in Europe by 2040. This includes a 100% CO2 reduction by 2035. Steps to make this possible are already underway. For example, the Deeside plant in the UK already recycles 90% of its waste to produce green energy.
Like many automakers, Toyota is working on the transition to electric vehicles. However, Jack Hollis, executive vice president of North American sales, believes that 2030 EV adoption targets could be difficult to meet due to consumer demand for these models.
In the near future, Toyota is preparing to launch the three-row Grand Highlander on February 8, 2023. The company’s teasers call it “the ultimate travel vehicle”. The model is supposed to sit between the standard Highlander and the larger Sequoia SUV. Later, there might be a Lexus variant that would go by the TX name.
For more discussion of Toyota’s future, check out this episode of Rambling About Cars:
