Akio Toyoda steps down from Toyota CEO role

Akio Toyoda has today announced he will step down from the Toyota CEO role with Koji Sato, president of Gazoo Racing, taking his place.

Toyoda became the head honcho of the carmaker back in 2009 and presided over the company throughout times of hardship such as the financial crisis and the 2011 Japan earthquake. He pushed on to achieve record sales and earnings for the company.

His replacement is current chief branding officer, Lexus president, and Gazoo Racing president, Sato who will take the reins on April 1, 2023.

“I believe that over the past 13 years, I have built a solid foundation for passing the baton,” Toyoda said.

He also mentioned that Sato and the new management team now has a mission to transform Toyota into a mobility company.

That means Toyota will likely now focus on a new era of transportation such as ramping electric vehicle production and exploring other ways to transport its customers.

Part of Toyoda’s reasoning for pushing Sato for the role is that like himself, he too loves cars and brings a new generation of youth to the company.

The current CEO is well known for being a car enthusiast, often competing in various racing events like Super Taiku behind the wheel of a Toyota.

“We don’t want to leave any car lovers behind,” Toyoda said at a recent press conference regarding the carbon-neutral future of enthusiast cars like the 1980s Corolla Trueno and Levin. 

We look forward to seeing what Sato brings to the table.