Toyota may replace many of its top executives, says a report from Bloomberg. The company’s next CEO Akio Toyoda is said to be keen on tossing out the old guard in favour of new faces while at the same time cutting down management in total. In June he takes over from the highly-regarded Katsuaki Watanabe.
Toyoda is the grandson of Kiichiro Toyoda, the man who founded Toyota Motor Corporation in 1937 out of his own father Sakichi Toyoda’s loom business.
The 52 year-old takes over a company that in 2008 broke General Motors’ 77-year old record as the world’s biggest automaker. But because of a bad world economy, sales have dropped drastically and Toyota is expected to announce its first loss in years.
SOURCE: Bloomberg
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