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☆ Toyota shareholders vote for chairman's re-election
▼ + stars: | 2024-06-18 | by ( ) www.cnbc.com time to read: +1 min

Toyota Motor shareholders backed Chairman Akio Toyoda and nine other members of the automaker's board on Tuesday, despite concerns about governance raised by two leading proxy advisers. Toyota Motor shareholders backed Chairman Akio Toyoda and nine other members of the automaker's board on Tuesday, despite concerns about governance raised by two leading proxy advisers. Toyoda's re-election as chairman was a focal point of its annual shareholder meeting after the proxy advisers recommended that investors vote against it. Shareholders also rejected an investor proposal urging greater disclosure of climate lobbying that had been opposed by Toyota. "I bought Toyota shares with my retirement bonus," 84-year-old Hidenori Takahashi told Reuters ahead of the meeting, adding he believed it was the "best company in Japan" for shareholders.

Persons: Akio Toyoda, Toyoda's, Toyoda, Hidenori Takahashi Organizations: Toyota Motor, Toyota Locations: Japan

A new EV platform, if implemented, would be the result of a far-reaching review of Toyota's electric-car strategy undertaken last year. Its current production architecture, the e-TNGA system, was launched in 2019 and produces electric vehicles on the same assembly line as gasoline cars and hybrids. The briefing was given by the former chief competitive officer tasked with the EV strategy review, Shigeki Terashi, according to the person. So far it has fallen short - its initial battery EV, the bZ4X, suffered an early recall and has had only limited sales. GM sold more than 20,000 electric vehicles during the first quarter while Toyota and its luxury brand Lexus sold about 1,880 battery electrics.

The 66-year-old Toyoda on Thursday announced he would step aside as leader of the company his grandfather founded from April 1 to take the role of chairman. He will hand over to Koji Sato, the 53-year-old head of Toyota's luxury Lexus brand. "It's likely that he'll remain active as chairman for a long time and continue to put his mark on Toyota." "Toyota is a public company that likes to pretend it's a family company," said John Shook, a former Toyota manager who now consults on the lean management techniques pioneered by the automaker. "Choosing someone who is much younger and with Sato's background indicates Akio recognised the time for change had come."

TOKYO, Jan 27 (Reuters) - Toyota Motor Corp (7203.T) chief Akio Toyoda is set to remain a dominant force inside the world's largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar with the firm said. The 66-year-old Toyoda on Thursday announced he would step aside as leader of the company his grandfather founded from April 1 to take the role of chairman. "It's likely that he'll remain active as chairman for a long time and continue to put his mark on Toyota." "Toyota is a public company that likes to pretend it's a family company," said John Shook, a former Toyota manager who now consults on the lean management techniques pioneered by the automaker. "Choosing someone who is much younger and with Sato's background indicates Akio recognised the time for change had come."

☆ Toyota CEO and President Akio Toyoda to step down
▼ + stars: | 2023-01-26 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

Toyota Motor Corporation's President and Chief Executive Akio Toyoda will step down from his post on April 1, to be replaced by current Chief Branding Officer Koji Sato, the Japanese automaker said Thursday. Toyoda will become the new chairman of the board, while the current Chairman Takeshi Uchiyamada will continue as a member of the board. Toyoda, 66, is the grandson of the carmaker's founder and has served as chief executive since June 2009. Chairman Uchiyamada has long supported me in all imaginable ways," Toyoda said in a webcast. Tokyo-listed shares of Toyota ended the session 0.63% lower Thursday ahead of the announcement.

☆ Toyota says it plans to transform older cars into eco-friendly models to reduce carbon emissions, as the carmaker faces increased criticism for EV hesitancy
▼ + stars: | 2023-01-15 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Toyota plans to convert older cars into eco-friendly models by updating parts, the AP reported. CEO Akio Toyoda announced the effort at an industry event in Tokyo on Friday, per the AP. Toyota has been reluctant to produce EVs due to high costs and concerns about lack of demand. Toyota CEO Akio Toyoda said the company plans to use a "conversion" strategy that involves transforming older cars into more sustainable models by replacing certain parts, the Associated Press reported. At the time, Toyota also pledged to make all models in its Lexus line electric in the US, China, and Europe by 2030.

☆ Toyota unveils new Prius hybrids amid skepticism of its EV strategy
▼ + stars: | 2022-11-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The automaker late Tuesday revealed new versions of the Prius hybrid and Prius Prime, a plug-in hybrid electric vehicle. 2023 Toyota Prius hybrid ToyotaMoving forward with the Prius as other automakers vow to go all-electric in the years ahead is part of Toyota CEO Akio Toyoda's electrification strategy. Since the Prius launched in 1997, Toyota says it has sold more than 20 million electrified vehicles worldwide. The company says those sales have avoided 160 million tons of CO2 emissions, which is equivalent to the impact of 5.5 million all-electric battery vehicles. Interior of the 2023 Toyota Prius Toyota

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