TOKYO (Reuters) - Toyota Motor Corp said on Thursday its president and chief executive officer Akio Toyoda will become chairman effective April 1.
Kouji Sato, chief branding officer, will become the new CEO, Toyota said. Representative director Takeshi Uchiyamada will drop his chairman title.
The Japanese automaker will hold a news conference at 4 p.m. (7 a.m. GMT) to explain the leadership reshuffle.
At the shareholder meeting in June last year, Toyoda said he was "thinking about timing and the selection of a successor" when asked about succession planning.
(Reporting by Satoshi Sugiyama; Editing by Muralikumar Anantharaman)
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Akio Toyoda is a businessperson who has been at the head of 8 different companies and presently is Chairman at Nagoya Grampus Eight, Inc., Chairman for Towa Real Estate Co., Ltd., Chairman of Toyota Motor Sales & Marketing Corp. and Executive President, CEO & Representative Director at Toyota Motor Corp. Akio Toyoda is also on the board of DENSO Corp. and Hamanakodenso Co., Ltd. and Co-Chairman for Japan Automobile Manufacturers Association. In the past he was Chairman of Toyota Motor(China)Investment Co., Ltd., Chairman for Toyota Motor Europe NV and Chairman & Chief Executive Officer at Toyota Motor North America, Inc. Mr. Toyoda received a graduate degree from Keio University and an MBA from Babson College.
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| TOYOTA MOTOR CORPORATION | Chairman |
Toyota Fudosan Co., Ltd.
 Toyota Fudosan Co., Ltd. Real Estate DevelopmentFinance Toyota Fudosan Co., Ltd. provides real estate management, brokerage, and leasing services. It also deals with the management of investment securities. The company was founded on August 17, 1953 and is headquartered in Nagoya, Japan. | Chairman |
