TOKYO: Toyota Motor Chief Executive Koji Sato will step down, the world’s largest automaker said on Friday, and will be replaced by the automaker’s chief financial officer, Kenta Kon.
Sato, who will become vice chairman and chief industry officer, will hold a press conference at 3:30 p.m. (0630 GMT) on Friday.
In their new roles Kon will focus on internal company management while Sato will focus on the broader industry, the company said in a statement.
The change was intended to accelerate decision-making in response to vast disruption sweeping the industry, the automaker said.
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