Akio Toyoda becomes new boss at Toyota, enthusiasts rejoice

Akio Toyoda

Are you ready for some change at Toyota? We definitely are and we’re definitely excited to welcome auto enthusiast Akio Toyoda as he takes control of Toyota from former boss Katsuaki Watanabe who will become vice chairman of the Japanese automaker.

The man behind cars such as the Lexus IS-F and the Lexus LF-A, Toyoda is grandson to the company’s founder and will steer the world’s No.1 automaker through one of the worst downturns in its history.

At this time, you’re probably thinking Toyoda is 23-years old but he is really 53 and will take over Toyota with four new executive vice presidents and eight new board members.Honorary Chairman Shoichiro Toyoda, Akio’s father, and Senior Adviser Hiroshi Okuda, have resigned from the board.

Toyota, which lost 436.9 billion yen ($4.6 billion USD) during the fiscal year through March (its worst loss since it was founded in 1937), expects an even larger loss this year.

– By: Mo Eladawy

Source: Reuters