Toyota CEO Sato to step down, to be replaced by CFO Kon
Add BT as a preferred source
[TOKYO] Toyota Motor chief executive Koji Sato will step down, the world’s largest automaker said on Friday, and will be replaced by the automaker’s chief financial officer, Kenta Kon.
Sato, who will become vice-chairman and chief industry officer, will hold a press conference at 3.30 pm (0630 GMT) on Friday.
In their new roles, Kon will focus on internal company management while Sato will focus on the broader industry, the company said in a statement.
The change was intended to accelerate decision-making in response to vast disruption sweeping the industry, the automaker said. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Jumbo Seafood to close flagship East Coast Seafood Centre outlet on Sep 30
Shanda co-founder sells Tanglin Hill bungalow for S$76 million
Singapore developer in limbo after Timor-Leste scraps major township project
Trek 2000 shares jump 41.5% after Osim founder Ron Sim drops claims, sells 7.3% stake to Azure Capital
