Akio Toyoda takes over the presidency of Toyota

Posted on Wednesday, 21 January 2009 , 04:01:26 byEmil

Filed under toyotapresidentceoakiotoyodatakeoverToyota

Akio Toyoda takes over the presidency of Toyota

Akio Toyoda, grandson of the founder of Toyota, has been named officially as the upcoming president of the Japanese carmaker. Toyoda, 53 year old, will be taking over for Katsuaki Watanabe, the present President / CEO, making him now the youngest president on the history of the the company.

As reported this month in the Japanese newspapers, Toyoda will be taking over in June the position. Toyoda has been groomed long for the President / CEO position via a series of positions (specifically-selected) — both here in America and overseas. Watanabe's expected for taking the Vice Chairman position and current firm chairman Fujio Cho now will stay put.

So, Toyota's hopeful this move will be curtailing the present sales slide of the automaker. Toyota's expected to post the 1st ever operating loss on the fiscal ending year March 31st, having global sales downsized by 4 % last year.