Toyota Motor has appointed its chief financial officer to take over from Koji Sato as chief executive, as the world’s largest carmaker navigates global trade disruption and rising competition from China’s electric vehicle champions.
The Japanese group said on Friday that Kenta Kon would take over as president and CEO from April, with Sato moving to the vice-chair role and a new position of chief industry officer.
Toyota said the reshuffle was “intended to accelerate management decision-making in response to changes in the internal and external environment”.
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