Koji Sato will be Toyota's new president, CEO and chief operating officer as of April 1, 2023. The executive will replace Akio Toyoda, who will become chairman of the company's board of directors, the Japanese automaker said in a statement.
The appointment comes just weeks after Akio Toyoda expressed his reluctance to push electric vehicles to the detriment of gasoline and diesel combustion engines. Toyoda regretted that the political commitment to end combustion-engine vehicles meant that many can’t speak out.
People involved in the auto industry are largely a silent majority. That silent majority is wondering whether EVs are really OK to have as a single option. But they think it’s the trend so they can’t speak out loudly.
Toyoda will be replaced by Koji Sato, head of the Lexus luxury division, who at 53 years of age will steer Toyota towards transitioning to battery powered electric cars. Akio Toyoda, grandson of Toyota's founder and CEO since 2009, will step down as head of the Japanese brand. Meanwhile, the current chairman of the board, Takeshi Uchiyamada, will step down from his position and become a member of the organization. In his more than half a century with Toyota, Uchiyamada has been involved in numerous projects, including the 1997 launch of the Prius hybrid model, an industry first.
The changes in Toyota's top management will be formalized at the next ordinary general shareholders' meeting and will go into effect on April 1, the start of the company's fiscal year.
