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Toyota set to be driven by founder's grandson
Source: Agencies |
January 10, 2009, Saturday
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Print Edition
Print Edition
THE grandson of Toyota Motor Corp's founder will take the helm of Japan's top auto maker in June, newspapers said yesterday.
Toyota's top executives will hold a board meeting as early as Monday to endorse the appointment of Akio Toyoda, 52, said the Nikkei daily, Japan's top business newspaper, citing no sources. Toyoda will officially take over leadership of Japan's auto giant following a shareholders' meeting in late June, it said.
Toyota is struggling to shore up its sagging sales at home and abroad amid a deepening global downturn, cutting output and the number of temporary workers.
It shocked the nation last month by forecasting it will see its first yearly operating loss in 70 years for the fiscal year ending March 2009, underlining a rapid deterioration in the global auto market.
Apart from the Nikkei daily, Japan's top-selling Yomiuri newspaper and the Mainichi daily said in their evening editions yesterday that Toyoda will take over the top job in June. It will mark the first time in 14 years that a member of Toyota's founding family will run the Japanese auto giant. Neither of the papers cited any sources.
The major Asahi newspaper also said in December that Toyoda -- long groomed for the top job -- will replace current president Katsuaki Watanabe as soon as April. Toyota denied the Asahi report, which did not cite sources.
Toyota's top executives will hold a board meeting as early as Monday to endorse the appointment of Akio Toyoda, 52, said the Nikkei daily, Japan's top business newspaper, citing no sources. Toyoda will officially take over leadership of Japan's auto giant following a shareholders' meeting in late June, it said.
Toyota is struggling to shore up its sagging sales at home and abroad amid a deepening global downturn, cutting output and the number of temporary workers.
It shocked the nation last month by forecasting it will see its first yearly operating loss in 70 years for the fiscal year ending March 2009, underlining a rapid deterioration in the global auto market.
Apart from the Nikkei daily, Japan's top-selling Yomiuri newspaper and the Mainichi daily said in their evening editions yesterday that Toyoda will take over the top job in June. It will mark the first time in 14 years that a member of Toyota's founding family will run the Japanese auto giant. Neither of the papers cited any sources.
The major Asahi newspaper also said in December that Toyoda -- long groomed for the top job -- will replace current president Katsuaki Watanabe as soon as April. Toyota denied the Asahi report, which did not cite sources.
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