Life & Style | Motoring
Grandson of Toyota's founder 'to take helm'
A newspaper said the grandson of Toyota Motor Corporation's founder will take the helm of Japan's top automaker in June.
- AP
- Published: 23:47 January 9, 2009
Tokyo: A newspaper said the grandson of Toyota Motor Corporation's founder will take the helm of Japan's top automaker in June.
Japan's top business newspaper The Nikkei daily said yesterday Toyota's top executives will hold a board meeting as early as Monday to endorse the appointment of the 52-year-old Akio Toyoda. The report cited no source.
It said Toyoda will officially take over leadership of Japan's auto giant following a shareholders' meeting in late June.
Toyota spokeswoman Ririko Takeuchi yesterday declined to confirm the Nikkei report, saying nothing has been decided yet. She gave no further details.
Toyota is struggling to shore up its sagging sales at home and abroad amid a deepening global downturn, cutting output and the number of temporary workers.
It shocked the nation last month by forecasting it will experience its first yearly operating loss in 70 years for the fiscal year ending March 2009, underlining a rapid deterioration in the global auto market.
Apart from the Nikkei daily, Japan's top-selling Yomiuri newspaper and the Mainichi daily said in their evening editions yesterday that Toyoda will take over the top job in June.
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