Supplementing earlier rumors comes news today that Akio Toyoda, the grandson of Toyota’s founder, has apparently been hand-selected to take over the company just as its sales have begun to slide. A report out of Japan says that the automaker’s top executives will meet as early as Monday to endorse Toyoda’s appointment over current President and CEO Katsuaki Watanabe.
Three Japanese newspapers reported today that Toyoda will take over the position as early as June, though not any of the papers cited any representatives at the company. Toyoda has long been groomed for the President and CEO position through a series of specifically-selected positions.
Toyota declined to confirm the report, according to the Associated Press, though we would expect a confirmation early next week.
Watanabe is expected to take the position of Vice Chairman and instant company chairman Fujio Cho will stay put.
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Source: www.leftlanenews.com
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