Akio Toyoda's outspoken chief is stepping down as CEO but will remain with the automaker as its new chairman.
Akio Toyoda, the grandson of Toyota founder Kiichiro Toyoda, is leaving his position as president and CEO of Toyota to become its chairman, the automaker announced on Thursday.
His successor has been named as Koji Sato, the current chief of Lexus and chief of Gazoo, the official motorsports department of Toyota and Lexus. Toyota's current chairman, Takeshi Uchiyamada, will remain as a board member after Toyoda takes over as chairman.Toyoda led Toyota since 2009, during which time he managed to inject some much-needed vitality into the automaker's designs and sportiness into its engineering. An avid racer himself, Toyoda also saw Toyota grow its motorsports presence, particularly at the top level of endurance racing.
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