Toyota gets a new president. From April 1, 2023, Koji Sato is to take over the official business from long-time Toyota boss Akio Toyoda. The 66-year-old Toyoda will then move to the position of chairman of the board.
family tradition
Sato heads Toyota’s luxury brand Lexus and the motorsport department of the world’s largest car manufacturer in terms of production figures, ahead of Volkswagen. Takeshi Uchiyamada is vacating the post of CEO and will resign. Akio Toyoda is appointed as the new chairman and Koji Sato as the new president and chief executive officer. This ends part of the family tradition: Toyoda is the grandson of Kiichiro Toyoda, who founded the Toyota company together with Eiji Toyoda on August 28, 1937. The personal details are to be approved at the 119th ordinary shareholders’ meeting.
Koji Sato was born on October 19, 1969. In 1992, he graduated from Waseda University with a bachelor’s degree in mechanical engineering and joined Toyota. Since 2020 Sato has been head of the Lexus brand and president of GAZOO Racing, since 2021 Toyota brand boss.
Underestimated e-cars
Toyoda left a strong mark on his company by initiating the development of mobility services early on. Toyota has also become the market leader in fuel cell cars during this time, but the importance of electromobility has long been underestimated under Toyoda’s aegis.
(fpi)
