Toyota Motor Corporation has announced that Koji Sato will take over as the company’s new CEO, effective April 1st, 2023. Sato will replace Akio Toyoda, who will become chairman of the company.
Sato, who is currently the Senior Managing Officer of Toyota Motor Corporation, has been with the company for more than 30 years and has held various leadership roles in the company. He has been involved in the development and production of Toyota’s popular models such as the Camry and Corolla, as well as the development of the company’s hybrid powertrain technology. Sato has also served as the head of Toyota’s operations in North America and has been instrumental in the company’s expansion in the region.
Akio Toyoda, the outgoing CEO, will take on the role of chairman, where he will be responsible for providing guidance and direction for the company’s long-term strategy. Toyoda has been the CEO of Toyota since 2009 and has played a key role in the company’s growth and expansion during his tenure. Under his leadership, Toyota has seen record sales and profits and has become one of the world’s leading automakers.
The announcement of the new leadership team at Toyota comes as the company faces a number of challenges in the coming years, including the shift to electric and autonomous vehicles, increased competition from other automakers, and the ongoing impact of the COVID-19 pandemic on the global economy.
Sato, the new CEO, has pledged to continue the company’s commitment to producing high-quality, reliable vehicles and to making sustainable mobility a reality for all. He has also promised to continue Toyota’s focus on innovation and technology to help the company meet the challenges of the future.