Has been updated:
TOKYO (AP) — Toyota Motor Corporation announced Thursday that Akio Toyoda, the company’s CEO and president, will become chairman. To replace him, Koji Sato, the automaker’s Chief of Branding and His Officer, will become his CEO.
Toyota announced the executive change without any warning, but a lively promotional video was prepared to highlight Toyota and Sato’s love of electric vehicles and fast cars.
Sato, 53, has managed operations and motor racing for the Toyota Group’s Lexus brand.
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https://wgnradio.com/news/business-news/ap-toyota-ceo-akio-toyoda-to-step-aside-become-chairman/ Toyota CEO Akio Toyoda resigns, becomes chairman WGN Radio 720