Toyota Motor¡¯s surprise CEO switch comes as global automakers confront a tumultuous industry landscape ¡ª one that the Japanese automaker has been navigating more adeptly than most.
The world¡¯s No. 1 carmaker by sales said Friday that it is moving away from CEO Koji Sato after a three-year stint, a relatively short tenure for the man hand-picked by Toyota Chairman Akio Toyoda. Taking the reins on April 1 will be finance chief Kenta ?Kon, a close ally and former secretary of Toyoda.
Analysts expressed surprise at the move, given Toyota¡¯s relative success during Sato¡¯s run ?at steering ?through the cascade of challenges facing all global carmakers: the rise of Chinese competitors, a costly transition ?to electric cars and an increasingly complex trade outlook stemming from U.S. tariffs.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.