Toyota Likely to Pick Scion as Next President

Japan's auto world is abuzz after the grandson of Toyota's founder was reported to become the carmaker's next president
Japan's auto giant Toyota Motor executive Akio Toyoda (L), grandson of Toyota Motor founder Kiichiro Toyoda, and president Katsuaki Watanabe (R) at a press conference in Nagoya in Aichi prefecture. Yoshikazu Tsuno/AFP/Getty Images

From the moment Akio Toyoda joined Toyota's (TM) board of directors in 2000, rumors circulated that the scion of the Japanese carmaker's founding clan was being groomed for the top job. Now the 52-year-old executive vice-president is likely to succeed President Katsuaki Watanabe after winning the board's support, a source close to the Japanese automaker told BusinessWeek.

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