Toyota has announced that it has appointed operating officer and chief financial officer Kenta Kon to become its president and CEO, effective April 1. He replaces Koji Sato, who will move into a vice chairman role under Akio Toyoda, as well as occupying the newly-formed role of chief industry officer.
As the Japanese giant’s new boss, Kon will handle internal company management, with Sato instead focusing on the broader industry, including being chairman of the Japan Automobile Manufacturers Association (JAMA). Toyota said the switch was made to “accelerate management decision-making in response to changes in the internal and external environment.”
Kon was tapped for his experience on the finance side, as the company aims to improve profits and lower the break-even volume of its products in pursuit of building ever-better cars. He will be tasked with instituting wide-scale reforms to its entire value chain, leveraging his cross-functional management experience while working at the Woven by Toyota software division.
As for Sato, his JAMA role will allow him to pursue greater collaboration with other Japanese carmakers. He is also the vice chairman of the Japan Business Federation (Keidanren), and in his role there he is expected to promote policy proposals centered on monozukuri (manufacturing) and advance industry collaboration to enhance Japan’s industrial competitiveness.”
The change in leadership comes as Toyota faces rivals to its dominance on the global front, with Chinese carmakers like BYD making serious inroads. Even so, the company sold a record 11.3 million vehicles last year, retaining its position as the world’s largest carmaker.
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