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Toyota names Akio Toyoda as new president: Ambitious and studious
By Amarendra Bhushan for CEOWORLD Magazine Updated:January 20, 2009
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TOYOTA MOTOR CORPORATION (TMC) announces a list of executive nominees (for the positions of president and higher) intended to be officially finalized at a board of directors meeting following this year’s annual general shareholders meeting in June.
Toyota Motor Corp. plans to promote the great-grandson of the auto giant’s founder to lead the company in June, according to various Japanese media reports Friday, citing people close to the matter. The long-rumored move to make Akio Toyoda president of one of the world’s largest corporations would mark the first time in 14 years that a Toyoda family member has run Toyota.
Current President Katsuaki Watanabe will become vice chairman and Chairman Fujio Cho will retain his post, with the reshuffle to be formalized after a shareholders’ meeting in June, Kyodo News reported. The 52-year-old Toyoda — an executive vice president with the company since 2005 — is a great-grandson of Sakichi Toyoda, who founded the Toyota in 1937.
Fujio Cho- Chairman
Katsuaki Watanabe- Vice chairman
Kazuo Okamoto- Vice chairman
Akio Toyoda- President
Akio Toyoda
Akio Toyoda born May 3, 1956 in Nagoya is the grandson of Toyota Motor Corporation founder Kiichiro Toyoda, and is the company’s current vice-president. He is scheduled to become the next president of the company in June 2009. Akio Toyoda was appointed as a Director, Member of the Board of Toyota Motor Corporation in 2000 and has served as an Executive Vice President, Member of the Board since 2005. Mr. Toyoda also serves as the Director of Toyota Motor Europe NV/SA. Mr. Toyoda joined Toyota in 1984.
Akio Toyoda, 52, is currently an executive vice president of the Japanese automaker. His grandfather, Kiichiro Toyoda, founded the company. Akio Toyoda was appointed as a Director, Member of the Board of Toyota Motor Corporation in 2000 and has served as an Executive Vice President, Member of the Board since 2005. Mr. Toyoda also serves as the Director of Toyota Motor Europe NV/SA. Mr. Toyoda joined Toyota in 1984.
Sakichi Toyoda:
Sakichi Toyoda born, February 14, 1867 – October 30, 1930 was a Japanese inventor and industrialist. He was born in Kosai, Shizuoka. The son of a poor carpenter, Toyoda is referred to as the “King of Japanese Inventors”. He is often referred to as the father of the Japanese industrial revolution. He is also the founder of Toyota Industries Co., Ltd.
He invented numerous weaving devices. His most famous invention was the automatic power loom in which he implemented the principle of Jidoka (autonomous automation). The principle of Jidoka, which means that the machine stops itself when a problem occurs, became later a part of the Toyota Production System.
Kiichiro Toyoda:
Kiichiro Toyoda born, June 11, 1894 – March 27, 1952 was a Japanese entrepreneur and the son of Toyoda Loom Works founder Sakichi Toyoda. He made the decision for Toyoda Loom Works to branch into automobiles, considered a risky business at the time. Shortly before Sakichi Toyoda died, he encouraged his son to follow his dream and pursue automobile manufacturing — Kiichiro created what eventually became Toyota Motor Corporation.
He resigned from the company in 1948 due to flagging sales and profitability, passing away four years later. In 1957, his cousin and confidant Eiji Toyoda became head of Toyota Motor Corporation, overseeing its successful expansion worldwide and the launch of Japan’s most prominent luxury vehicle brand, Lexus.
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