Toyota President Seeks End to Turmoil With Global Revamp
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Toyota Motor Corp. President Akio Toyoda cleared out the remnants of top management inherited when he took the helm in 2009 in a revamp to restore the fortunes of the world’s biggest carmaker after years of turmoil.
Toyota yesterday announced the retirement of the only three executive vice presidents not appointed by Toyoda and laid out a new, more clearly defined corporate structure with a greater focus on emerging markets. Three outside directors will join the board for the first time, including former General Motors Co. Vice President Mark Hogan, who’s known Toyoda since they worked at a U.S. joint venture more than a decade ago.