egmCarTech

According to The Wall Street Journal, Toyota’s President Katsuaki Watanabe is expected to step down next year and become chairman. Sources familiar with the matter said that the move doesn’t indicate change in the strategic direction of the company, but stems largely from the health of Watanabe.

It was announced yesterday that Watanabe will not be present at the 2009 North American International Auto Show in Detroit Next month.

Speculations have begun that Toyota will promote Akio Toyoda, the grandson of Toyota’s founder, to president in April. Toyota later denied the report made by Bloomberg earlier this morning.

Source: WSJ and Detroit News

Related Posts:

1. Toyota’s Watanabe not coming to the 2009 Detroit Auto Show
2. Toyota’s Watanabe in crisis mode, expects global profits to drop 73.6%
3. Toyota takes the next step to put A-BAT concept in production
4. Toyota/Subaru step up EV game: Stella electric four-seater on lease next year
5. Watanabe: Toyota has no plans for a diesel-hybrid