Toyota set up a new leadership team Thursday in what the Japanese automaker said was a move to stay abreast of social changes like electrification and becoming a wider "mobility company."
Chief Executive and President Akio Toyoda, grandson of the company's founder, will become chairman. He was prominent in the announcement and appeared to be still very much in control. He has been stressing the concept of "mobility," which reflects his view that people may opt for various ways to get around, other than owning cars.
Chief branding officer Koji Sato, who has been managing the Lexus luxury division and Toyota motor racing, becomes Toyota's president and CEO.
"I am going to give it my all," Sato said. "The new team will lead the shift in the transition to a mobility company to provide the freedom of mobility to all people."
Sato, 53, appeared in an online news conference with Toyoda and Takeshi Uchiyamada, who is seen as the "father" of the Prius hybrid model and is giving up the title of chairman.
The appointments still need shareholders' approval, scheduled for the next general meeting. Toyoda said Uchiyamada's decision to quit as chairman propelled him to take that job and give up the presidency.
Toyota Motor Corp. announced the leadership reshuffle without any forewarning, but it had a lively promotional video prepared to highlight Toyoda and Sato's love for electric vehicles and fast cars.
Toyoda, who took over as CEO of Toyota in 2009, and is an avid racer, has seen the company through various hard times, like the global financial crisis and the massive recall scandal in the U.S., over "unintended acceleration," in 2010, when he appeared before Congress.
Although Toyota is the top Japanese company in terms of market value, it has been criticized in recent years as falling behind in the industry's move toward electric vehicles amid a growing concern about climate change.
The handover appears to be the company's effort to give the leadership team a younger face, while maintaining the general vision and philosophy of the company, famed for founding "just in time" manufacturing and for quality products.
Like other automakers, Toyota has contended with a supply crunch in semiconductors and other parts, because of production snags caused by disruptions from the pandemic. The problem hurt Toyota, which also makes the Camry sedan and bZ4X electric car, because it could not keep up with customer demand.
Toyota has recently indicated it will be more aggressive about electric vehicles and has shown prototypes at events. Earlier it had said that a scarcity of charging stations might slow adoption of EVs. Most of the cars now on the roads are still not electric.
Toyoda had earlier hinted he was thinking about who might succeed him. He has also often spoken of his concerns about the future of the car industry.
Hisao Inoue, who has written books about Toyota, said its leadership is facing a lot of challenges, likely more daunting than what Toyoda faced as CEO, because the auto industry is undergoing a "once in a century transformation."
"A fundamental change is in order," he said.
Toyota, like other manufacturers, is saddled with higher prices because of recent inflationary pressures. It has scored such success with its Prius and other hybrids, which switch back and forth between an electric motor and gas engine, that it has tended to lag in pushing EVs, said Inoue.
Toyoda said he has made it through times "when there was no right answer," with sheer passion.
"We have managed to survive somehow," he said.
In less than two months, Americans will go to the polls to choose their next president. But the process that translates those millions of votes into one seat in the Oval Office is much more complicated than a straight tally.
Kate, the Princess of Wales, made her first public appearance Sunday since she announced she had completed chemotherapy and would return to some public duties.
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On an island of windswept tundra in the Bering Sea, hundreds of miles from mainland Alaska, a resident sitting outside their home saw — well, did they see it? They were pretty sure they saw it.
Hezbollah launched more than 100 rockets early Sunday across a wider and deeper area of northern Israel, with some landing near the city of Haifa, as Israel launched hundreds of strikes on Lebanon. The sides appeared to be spiraling toward all-out war following months of escalating tensions.
Republican activists in swing states say they have seen little sign of the teams tasked with knocking on doors and turning out infrequent voters on behalf of Donald Trump, raising concerns about the party's presidential nominee relying on outside groups for an important part of his campaign operations.
Procurement Minister and newly appointed Quebec lieutenant Jean-Yves Duclos is warning the NDP that the dental care program it helped put into place will be in jeopardy if it pulls its support from the governing Liberals.
A two-story building collapsed in the southern Italian province of Naples early Sunday, killing two young siblings and leaving their mother and an older woman trapped, firefighters said.
The British Columbia election campaign is set to officially start today, with Lt.-Gov. Janet Austin issuing the writ for the Oct. 19 vote.
A man is facing numerous drug trafficking charges after Dufferin OPP seized a large assortment of drugs and weapons in Orangeville earlier this week.
The London Police Service (LPS) is currently investigating a suspicious death in the east end.
One person has died following a shooting in Scarborough late last night.
Newfoundland and Labrador sponsored a minor football team in England, now they’re about to play one of the biggest clubs in European soccer.
A sea lion swam free after a rescue team disentangled it near Vancouver Island earlier this week.
An explosion in a coal mine in eastern Iran killed at least 33 workers and injured 17 others, officials said Sunday, marking one of the worst mining disasters in the country's history as others remained missing hours after the blast.
In less than two months, Americans will go to the polls to choose their next president. But the process that translates those millions of votes into one seat in the Oval Office is much more complicated than a straight tally.
A two-story building collapsed in the southern Italian province of Naples early Sunday, killing two young siblings and leaving their mother and an older woman trapped, firefighters said.
Kate, the Princess of Wales, made her first public appearance Sunday since she announced she had completed chemotherapy and would return to some public duties.
Multiple victims in a mass killing in Alabama were caught in the crossfire during a shooting in a popular entertainment district late Saturday, police said.
Republican activists in swing states say they have seen little sign of the teams tasked with knocking on doors and turning out infrequent voters on behalf of Donald Trump, raising concerns about the party's presidential nominee relying on outside groups for an important part of his campaign operations.
Prime Minister Justin Trudeau is set to be in New York this week for the 78th meeting of the United Nations General Assembly and the Summit of the Future amid increasing geopolitical instability around the world.
A $2.14-billion federal loan for an Ottawa-based satellite operator has Canadian politicians arguing about whether American billionaire Elon Musk poses a national security risk.
Procurement Minister and newly appointed Quebec lieutenant Jean-Yves Duclos is warning the NDP that the dental care program it helped put into place will be in jeopardy if it pulls its support from the governing Liberals.
A morning cup of coffee may do more than just perk you up, according to new research.
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The owner of the shuttered Three Mile Island nuclear power plant said Friday that it plans to restart the reactor under a 20-year agreement that calls for tech giant Microsoft to buy the power to supply its data centers with carbon-free energy.
Lebanese authorities on Thursday banned walkie-talkies and pagers from being taken on flights from Beirut airport, the National News Agency reported, after thousands of such devices exploded during a deadly attack on Hezbollah this week.
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'Saturday Night Live' will have a slew of famous faces to help kick off its historic 50th season when the show returns later this month.
It’s not easy going up against Canada’s banking oligopoly, but some are trying.
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The maker of the popular party game Cards Against Humanity is accusing Elon Musk's SpaceX of trespassing on and damaging a plot of vacant land the company owns in Texas.
More than 2,200 zoo professionals from 23 different countries have gathered in Calgary for the annual Association of Zoos and Aquariums conference.
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Jonathan Aranda homered for the second consecutive game, helping Taj Bradley and the Tampa Bay Rays beat the Toronto Blue Jays 3-2 on Saturday.
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General Motors (GM) has issued a recall for 38,000 vehicles for safety risks related to a software glitch, Transport Canada reported in a notice on Wednesday.
Chechen leader Ramzan Kadyrov has accused Tesla CEO Elon Musk of 'remotely disabling' his Cybertruck, which had been sent to the frontline of Russia's war in Ukraine.
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An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.
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Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.
The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.
The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.
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Volunteers and staff members gathered along Vancouver’s Stanley Park Seawall Saturday to pick up litter as part of International Coastal Cleanup Day.
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One person has died following a shooting in Scarborough late last night.
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Milla White from Cochrane literally drew her way into a meeting with former boxer and actor Mickey Rourke.
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The Cambridge Professional Fire Fighters’ Association held their annual Muscular Dystrophy Boot Drive on Saturday.
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The 75-year-old building, formerly the Waskesiu Chamber of Commerce building, was relocated to the Parks Canada compound on the edge of the townsite.
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For some young people, a popular method for getting a quick high is by misusing laughing gas — and lately, that’s in the form of nitrous oxide from products sold by the company Galaxy Gas.
Huron County OPP are investigating a serious single vehicle collision that took place west of Seaforth.
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The Barrie Skateboard Association (BSA) hosted a unique competition at the City's Skate Park on Saturday to celebrate its 25th anniversary, which showcased the park's importance and the growth of skateboarding in the region.
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The St. Clair College golf teams were successful at the Niagara Knights Invitational tournament on Friday.
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A sea lion swam free after a rescue team disentangled it near Vancouver Island earlier this week.
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Despite the heavy rain, plenty of muscle turned up for United Way’s annual Pull the Bus fundraiser in Lethbridge Friday.
Lethbridge County has rescinded its fire restriction as a result of the recent cool, wet weathr.
The Lethbridge Hurricanes kicked off the 2024-25 season on a winning note Friday night, defeating the Edmonton Oil Kings 3-1 in a game played at VisitLethbridge.com Arena.
A northern Ontario man is facing a $12,000 fine after illegally shooting a moose near the Batchawan River.
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A 26-year-old driver from Surrey, B.C., has been charged with three counts of criminal negligence causing death and bodily harm in a crash that killed two youths in northern Ontario last year.
Newfoundland and Labrador sponsored a minor football team in England, now they’re about to play one of the biggest clubs in European soccer.
Newfoundland and Labrador's chief medical officer is monitoring the rise of whooping cough infections across the province as cases of the highly contagious disease continue to grow across Canada.
A 16-year-old biennial event aimed at fostering business in the country's eastern Arctic and northern regions has been cancelled indefinitely as a dispute unfolds between Inuit in Canada and a Labrador group claiming to share their heritage.
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