The Wall Street Journal has reported that Toyota CEO Katsuaki Watanabe is to leave his post as CEO of the Japanese car maker early next year. Apparently Mr Watanabe will be assuming the position of company chairman. Watanabe will be attending the Detroit Motor Show next month. Word is, reasons for his stepping down are because of poor health.
Toyota this year reported its first financial loss since the late 1930s. despite current economic conditions and its competitors like Honda pulling out of major racing formulae like F1, Toyota is staying strong in F1 as well as NASCAR. The company will also be competing at Mzansi national rallies as it has been, as well as on the Wesbank track events.
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