Toyota president Akio Toyoda to become chairman


Kouji Sato, chief branding officer, will become the new CEO, Toyota said. Representative director Takeshi Uchiyamada will drop his chairman title.

The Japanese automaker will hold a news conference at 4 p.m. (7 a.m. GMT) to explain the leadership reshuffle.

At the shareholder meeting in June last year, Toyoda said he was “thinking about timing and the selection of a successor” when asked about succession planning.

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