JusBringIt
01-22-2009, 08:14 PM
The younger Mr. Toyoda will succeed Katsuaki Watanabe, who will become vice chairman. Fujio Cho will remain as chairman. (nytimes.com/2009/01/21/business/worldbusiness/21toyota.html?_r=1&ref=automobiles)
http://www.cleanmpg.com/photos/data/501/Akio_Toyoda.jpgMartin Fackler and Bettina Wassner - NYT - Jan. 20, 2009
Economic downturn and a new president? I’ve seen this somewhere… -- Ed.
TOKYO — Toyota Motor, the Japanese auto giant, named Akio Toyoda, the grandson of the company’s founder, as its next president on Tuesday, returning to its roots as it faces the roughest downturn in more than 70 years.
The appointment of Mr. Toyoda, 52, was widely expected as part of a management reshuffling at the company, which expects its first full-year operating loss since his grandfather started the company in 1937. The last family member to lead the company was his uncle, Tatsuro Toyoda, who stepped down in 1995.
Mr. Toyoda will take over as the company vies with General Motors to become the world’s largest automaker but also struggles to overcome the sudden and steep drop in the global market. He must also convince skeptics that a member of the Toyoda family, which now owns less than 2 percent of the company, should even hold the post.
The younger Mr. Toyoda will succeed Katsuaki Watanabe, who will become vice chairman. Fujio Cho will remain as chairman.
The transition will occur in June, after Toyota’s annual shareholders’ meeting. That is the normal time for Toyota to change management, and Mr. Watanabe will be finishing the usual four-year tenure for a Toyota chief executive... http://www.nytimes.com/2009/01/21/business/worldbusiness/21toyota.html?_r=1&ref=automobiles
http://www.cleanmpg.com/photos/data/501/Akio_Toyoda.jpgMartin Fackler and Bettina Wassner - NYT - Jan. 20, 2009
Economic downturn and a new president? I’ve seen this somewhere… -- Ed.
TOKYO — Toyota Motor, the Japanese auto giant, named Akio Toyoda, the grandson of the company’s founder, as its next president on Tuesday, returning to its roots as it faces the roughest downturn in more than 70 years.
The appointment of Mr. Toyoda, 52, was widely expected as part of a management reshuffling at the company, which expects its first full-year operating loss since his grandfather started the company in 1937. The last family member to lead the company was his uncle, Tatsuro Toyoda, who stepped down in 1995.
Mr. Toyoda will take over as the company vies with General Motors to become the world’s largest automaker but also struggles to overcome the sudden and steep drop in the global market. He must also convince skeptics that a member of the Toyoda family, which now owns less than 2 percent of the company, should even hold the post.
The younger Mr. Toyoda will succeed Katsuaki Watanabe, who will become vice chairman. Fujio Cho will remain as chairman.
The transition will occur in June, after Toyota’s annual shareholders’ meeting. That is the normal time for Toyota to change management, and Mr. Watanabe will be finishing the usual four-year tenure for a Toyota chief executive... http://www.nytimes.com/2009/01/21/business/worldbusiness/21toyota.html?_r=1&ref=automobiles