"Toyota has a new boss. Koji Sato, who was appointed CEO in January 2023, will step down on April 1. His replacement is Kenta Kon, the company's current chief financial officer, who is widely regarded as one of the main forces behind the automaker's impressive profits. The move marks the beginning of a regime change at the top of the world's largest automaker, as this is the first time since 2009 that Toyota has appointed someone who is not a car guy at the helm."
"As part of the reshuffle, Sato will take on the roles of Vice Chairman and Chief Industry Officer (CIO). Meanwhile, Kenta Kon will become Toyota's new President and Chief Executive Officer. According to the Japanese automaker, under this new leadership structure, Sato will focus on the broader industry, while Kon will focus on internal company management."
"During Koji Sato's tenure, the automaker dug deeper into its multi-pathway powertrains approach, and it paid off. Toyota went against the trend when other automakers had bet big on EVs, only to face the harsh realities of changing policies and trade barriers. Meanwhile, the Japanese car manufacturer's shares went up 111% under Sato's leadership."
Kenta Kon, currently Toyota's chief financial officer, will assume the roles of President and Chief Executive Officer on April 1, replacing Koji Sato. Koji Sato will move to Vice Chairman and Chief Industry Officer and concentrate on broader industry matters, while Kon will focus on internal company management. Yoichi Miyazaki will become CFO on April 1 while retaining his Operating Officer responsibilities. Toyota pursued a multi-pathway powertrains strategy under Sato, expanded its all-electric portfolio including the bZ Woodland EV, navigated global policy and trade challenges, and saw shares rise 111% during Sato's leadership.
Read at insideevs.com
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