:Akio Toyoda
{{short description|Japanese businessman, chairman of Toyota}}
{{Use dmy dates|date=July 2020}}
{{Infobox person
| name = Akio Toyoda
| image = Akio Toyoda cropped 2 Mark Templin and Akio Toyoda 20110818 2.jpg
| caption = Toyoda in 2011
| native_name = {{nobold|豊田章男}}
| native_name_lang = ja
| other_names = Morizo Kinoshita
| birth_date = {{Birth date and age|df=yes|1956|5|3}}
| birth_place = Nagoya, Japan
| death_place =
| alma_mater = Keio University
Babson College (MBA)
| occupation = Chairman, Toyota
| title =
| spouse =
| parents = Shoichiro Toyoda
| children = 2
| nationality = Japanese
| website =
}}
{{nihongo|Akio Toyoda|豊田 章男|Toyoda Akio|born 3 May 1956}} is a Japanese business executive who is the chairman of Toyota Motor Corporation. He was previously the company's president and chief executive officer (CEO).[https://money.cnn.com/2011/08/30/autos/akio_toyoda_toyota.fortune/index.htm Toyoda New President] {{Webarchive|url=https://web.archive.org/web/20120414225535/https://money.cnn.com/2011/08/30/autos/akio_toyoda_toyota.fortune/index.htm |date=14 April 2012 }} CNN Toyoda is a great-grandson of the industrialist, Sakichi Toyoda, and a grandson of both the founder of Toyota Motors, Kiichiro Toyoda, and the founder of the Takashimaya department stores corporation, Shinshichi Iida.
On 1 April 2023, Toyoda stepped down as Toyota president and became chairman of the board.{{cite web |title=Toyota names new CEO as Akio Toyoda steps down |website=CNN |date=26 January 2023 |url=https://www.cnn.com/2023/01/26/business/japan-toyota-ceo-steps-down-intl-hnk/index.html |access-date=26 January 2023}} Toyota's chief branding officer and president of the Lexus division, Koji Sato, succeeded Toyoda as CEO.
Early life and education
Toyoda is the great-grandson of the Toyoda Automatic Loom Works founder Sakichi Toyoda, and grandson of Toyota Motor Corporation founder Kiichiro Toyoda. He was born 3 May 1956, in Nagoya, to Shoichiro Toyoda and Hiroko (née Mitsui). Toyoda's family line have long dominated the upper management of the family businesses since the days his carpenter-farmer great-great-grandfather, Ikichi Toyoda, taught his son fabrication and carpentry. Akio Toyoda was the chief contender for the family business when Katsuaki Watanabe was reassigned as Vice-Chairman in the wake of the quality control crisis.Shirouzu, Norihiko and John Murphy. "Toyota to Change Leader Amid Global Sales Slump," Wall Street Journal. 24 December 2008.Kubo, Nobuhiro and Chang-Ran Kim. [https://www.reuters.com/article/businessNews/idUSTRE55M0Y520090623 "Toyota confirms Akio Toyoda as New President,"] {{Webarchive|url=https://web.archive.org/web/20090805053714/http://www.reuters.com/article/businessNews/idUSTRE55M0Y520090623 |date=5 August 2009 }} Reuters (UK). 23 June 2009, retrieved 20111-04-22
Toyoda completed his undergraduate degree in law at Keio University and was awarded his Masters of Finance at Babson College, Massachusetts.{{Cite web |title=Toyota USA Newsroom |url=http://toyotanews.pressroom.toyota.com/article_display.cfm?article_id=2280 |url-status=live |archive-url=https://web.archive.org/web/20180315170547/http://toyotanews.pressroom.toyota.com/article_display.cfm?article_id=2280 |archive-date=15 March 2018 |access-date=2 April 2018}}{{Cite web |title=Notable Alumni |url=http://www.babson.edu/about-babson/at-a-glance/Pages/notable-alumni.aspx |url-status=live |archive-url=https://web.archive.org/web/20180403051609/http://www.babson.edu/about-babson/at-a-glance/Pages/notable-alumni.aspx |archive-date=3 April 2018 |access-date=2 April 2018}}{{Cite web |date=2 June 2014 |title=Alma mater matters: Why Babson College is Toyota's special partner |url=https://www.autonews.com/article/20140602/OEM06/306029960/alma-mater-matters-why-babson-college-is-toyota-s-special-partner |url-status=live |archive-url=https://web.archive.org/web/20190403013327/https://www.autonews.com/article/20140602/OEM06/306029960/alma-mater-matters-why-babson-college-is-toyota-s-special-partner |archive-date=3 April 2019 |access-date=18 July 2020 |website=Automotive News}} He would join the family business in 1984.
Career
As grandson of the company's founder, Toyoda joined Toyota's board of directors in 2000.[https://web.archive.org/web/20090123033117/http://people.forbes.com/profile/akio-toyoda/80520 "Akio Toyoda" (profile)], Forbes (US). Retrieved 22 April 2011 In 2005, Toyoda was promoted to the position of executive vice president.Hasegawa, Yōzō. (2010). {{Google books|Rj1q5FhmxY4C|Rediscovering Japanese Business Leadership, p. 173.|page=173}} In January 2009, it was announced that Toyoda was chosen as the forthcoming president of the company.Rowley, Ian. [http://www.businessweek.com/globalbiz/content/jan2009/gb20090120_268336.htm "It's Official: Toyota Scion to Be New Chief,"] {{Webarchive|url=https://web.archive.org/web/20090224032437/http://www.businessweek.com/globalbiz/content/jan2009/gb20090120_268336.htm |date=24 February 2009 }} Business Week. 20 January 2009. On 23 June 2009, he was confirmed as the new president, along with four new executive vice presidents and eight new board members.Chartered Management Institute blog: [http://blog.managers.org.uk/post/Akio-Toyoda-to-continue-the-Toyota-Way-1532.aspx "Akio Toyoda to Continue the Toyota Way,"] {{Webarchive|url=https://web.archive.org/web/20090719101245/http://blog.managers.org.uk/post/Akio-Toyoda-to-continue-the-Toyota-Way-1532.aspx |date=19 July 2009 }} 23 June 2009. Retrieved 22 April 2011{{cite news |last1=Davis |first1=River |title=The Tearful Executive Who Tapped the Brakes on Electric Cars at Toyota |url=https://www.wsj.com/articles/toyota-president-akio-toyoda-electric-vehicles-evs-8dcf7dae |access-date=9 September 2023 |work=Wall Street Journal |date=24 June 2023}} The previous president and CEO Katsuaki Watanabe became vice chairman, replacing Katsuhiro Nakagawa.[http://www.upi.com/Business_News/2009/01/09/Toyota-names-Akio-Toyoda-as-next-president/UPI-99791231535710/ "Toyota Names Akio Toyoda as Next President,"] {{Webarchive|url=https://web.archive.org/web/20190328134246/https://www.upi.com/Business_News/2009/01/09/Toyota-names-Akio-Toyoda-as-next-president/UPI-99791231535710/ |date=28 March 2019 }} UPI (US). 9 January 2009. Retrieved 26 April 2011.
In 2012, he was named Autocar's Man of the Year.{{cite news |url=http://www.autocar.co.uk/car-news/industry/akio-toyoda-named-autocar-man-year |title=Akio Toyoda named Autocar Man of the Year |work=Autocar |accessdate=27 March 2013|archive-url=https://web.archive.org/web/20130106033647/http://www.autocar.co.uk/car-news/industry/akio-toyoda-named-autocar-man-year|archive-date=6 January 2013|url-status=live}}
=Master driver "Morizo"=
As an avid auto racing fan and driver himself, Toyoda has participated in several auto races under the pseudonym Morizo Kinoshita.{{cite news |url=http://www.sportauto-online.de/news/24-stunden-rennen-2009-toyota-chef-startet-im-lexus-lf-a-1267444.html |title=Toyota-Chef startet im Lexus LF-A |archive-url=https://web.archive.org/web/20100916210611/http://www.sportauto-online.de/news/24-stunden-rennen-2009-toyota-chef-startet-im-lexus-lf-a-1267444.html |archive-date=16 September 2010 |work=sport auto |date=22 May 2009}} At the 2009 24 Hours of Nürburgring, he finished 81st overall and third in class in a Lexus IS F, and 87th overall and fourth in class with a Lexus LF-A.{{cite web |url=http://www.24h-rennen.de/uploads/media/24h-Rennen_2009_ENDERGEBNIS_Gesamt.pdf |archive-url=https://web.archive.org/web/20120523160540/http://www.24h-rennen.de/uploads/media/24h-Rennen_2009_ENDERGEBNIS_Gesamt.pdf |title=37. ADAC Zurich 24h Rennen |website=Nürburgring result |date=24 May 2009 |archive-date=23 May 2012}}{{cite web |url=https://www.24h-rennen.de/wp-content//uploads/ergebnisse/2014-24h-Rennen/24h_Race_Official_Result.pdf|title=Results 24h Nürburgring |archive-url=https://archive.today/20130904183842/http://www.24h-rennen.de/offizielle-webseite/historie/ergebnisse/ |archive-date=4 September 2013 |access-date=29 April 2015}} At the 2014 24 Hours of Nürburgring, he finished 13th overall and first in class with a Lexus LF-A.{{cite web |url=https://www.24h-rennen.de/wp-content//uploads/ergebnisse/2014-24h-Rennen/24h_Race_Official_Result.pdf |title=42. ADAC Zurich 24h Rennen Official Result |website=ADAC 24h-Rennen}} At the 2019 24 Hours of Nürburgring, he finished 40th overall and third in class with a Toyota GR Supra GT4.
In 2016, Toyoda approved the project that would result in the GR Yaris; during the development of that car, Toyoda (as Morizo) served as a test driver. Morizo crashed the first test car during a mid-winter test drive at a Hokkaido track; after exiting the car on his own, he remarked that he did not "like the feel of it". As Morizo, Toyoda continued to drive development prototypes, and since the car's release, has campaigned the car in races.{{cite news |url=https://www.japantimes.co.jp/news/2021/05/24/business/corporate-business/akio-toyoda-gr-yaris-development/ |title=How Toyota's president helped develop the GR Yaris from the driver's seat |date=24 May 2021 |newspaper=The Japan Times |access-date=18 March 2022 |url-access=subscription}}
=Toyota global recalls and Congressional Statement=
{{Main|2009–2010 Toyota vehicle recalls}}
File:Toyota Yaris WRC 2016-09-29 001.jpg, set to compete in the 2017 WRC season, at the 2016 Paris Motor Show. On the left is Akio Toyoda, CEO of Toyota Motor Corporation, next to four time World Rally Drivers' Champion
In the wake of massive global recalls ballooning to 8.5 million vehicles, Toyoda was invited to testify before the U.S. Congress on 17 February 2010,{{Cite web |url=https://www.nbcnews.com/id/wbna35479683 |title=Toyota 'prince' needs to steer company in crisis |website=NBC News |date=21 February 2010 |access-date=18 November 2019 |archive-url=https://web.archive.org/web/20180403053235/http://www.nbcnews.com/id/35479683/ |archive-date=3 April 2018 |url-status=live}} which he accepted. A week later, he issued a prepared statement to the Congress.[https://www.theguardian.com/business/2010/feb/24/akio-toyoda-statement-to-congress "Toyota president Akio Toyoda's statement to Congress,"] {{Webarchive|url=https://web.archive.org/web/20170203213806/https://www.theguardian.com/business/2010/feb/24/akio-toyoda-statement-to-congress |date=3 February 2017 }} The Guardian (UK). 24 February 2010. Retrieved 22 April 2011 He focused on three key issues: Toyota's basic philosophy regarding quality control, the cause of the recalls, and "how we will manage quality control going forward".{{Cite web |url=https://www.theguardian.com/business/2010/feb/24/akio-toyoda-statement-to-congress |title=Toyota president Akio Toyoda's statement to Congress |website=TheGuardian.com |date=24 February 2010 |access-date=10 December 2016 |archive-url=https://web.archive.org/web/20170203213806/https://www.theguardian.com/business/2010/feb/24/akio-toyoda-statement-to-congress |archive-date=3 February 2017 |url-status=live}} On 24 February 2010, accompanied by president and COO of Toyota Motor North America, Yoshimi Inaba, Toyoda testified before the House of Representatives' Oversight and Government Reform Committee. As the scion of a family known for their contributions to automated manufacturing, Toyoda was personally affected by the quality control crises.{{Cite web |url=http://www.cnn.com/2010/POLITICS/02/24/toyota.hearing.updates/index.html |title=Toyota president testifies before Congress - CNN.com |website=CNN |access-date=15 August 2010 |archive-url=https://web.archive.org/web/20100822210206/http://www.cnn.com/2010/POLITICS/02/24/toyota.hearing.updates/index.html |archive-date=22 August 2010 |url-status=live}} In his comments he is quoted as being "deeply sorry" and highlighted the relations between Toyota vehicles in the United States and Americans for fifty years.Raum, Tom and Ken Thomas. [https://www.huffingtonpost.com/2010/02/24/toyota-ceo-akio-toyoda-to_n_475341.html "Toyota CEO Akio Toyoda To Congress: 'I'm Deeply Sorry',"] {{Webarchive|url=https://web.archive.org/web/20160308043510/http://www.huffingtonpost.com/2010/02/24/toyota-ceo-akio-toyoda-to_n_475341.html |date=8 March 2016 }} Huffington Post (US). 24 February 2010. Retrieved 22 April 2011; [http://www.cnn.com/2010/POLITICS/02/24/toyota.hearing.updates/index.html "Toyota president testifies before Congress,"] {{Webarchive|url=https://web.archive.org/web/20100822210206/http://www.cnn.com/2010/POLITICS/02/24/toyota.hearing.updates/index.html |date=22 August 2010 }} CNN (US). 24 February 2010. Retrieved 22 April 2011
=Direction of Toyota=
At a press event held on 14 December 2021, Toyota unveiled multiple concept cars with battery electric drivetrains, a sign of faith in the future of the technology.{{Cite web |date=2021-12-15 |title=Toyota commits $70 bln to bolster electrification, shares rally |url=https://tuoitrenews.vn/news/international/20211215/toyota-commits-70-bln-to-bolster-electrification-shares-rally/64734.html |access-date=2024-06-17 |website=Tuoi Tre News |language=en-US}} In a later interview, he said "“People are finally seeing reality."{{Cite news |last=Davis |first=River |date=25 October 2023 |title=Toyota Chairman Says People Are Finally Seeing the Reality About EVs |url=https://www.wsj.com/business/autos/toyota-chairman-says-people-are-finally-seeing-the-reality-about-evs-31f1669c}} The New York Times assessed his bet on hybrid vehicles is how the company achieved its 2023 profit of 4.9 trillion yen—the highest in the company's history.{{Cite web |date=2024-05-08 |title=Toyota racks up booming profit, vows to invest to keep growth going |url=https://apnews.com/article/toyota-automaker-japan-ev-hybrids-9815fadc5f2eb3c9d4adf2256251361d |access-date=2024-06-17 |website=AP News |language=en}}{{Cite news |last=Davis |first=River Akira |date=2024-06-17 |title=Toyota Investors Challenge Scion's Grip at a 'Critical Juncture' |url=https://www.nytimes.com/2024/06/17/business/toyota-ceo-succession.html |access-date=2024-06-17 |work=The New York Times |language=en-US |issn=0362-4331}} Also in 2023, Toyoda stepped down from his role as CEO to become chairman.
Family tree
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{{tree chart|border=0| | | TSS | | THK | | | | | | ASK |y| TSK |y| TAM |TSS=Sasuke|THK=Heikichi|ASK=Asako|TSK=Sakichi|TAM=Tami}}
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{{tree chart|border=0| | | TK |y| TEJ | | | | TRS |~| AIK | | TKI |TK=Kazuko|TEJ=Eiji|TRS=Rizaburo|AIK=Aiko|TKI=Kiichiro}}
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{{tree chart|border=0| TK | | TT | | TSH | | | | | | | | TTR | | TSI |TK=Kanshiro|TT=Tetsuro|TSH=Shuhei|TTR=Tatsuro|TSI=Shoichiro}}
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{{tree chart|border=0| | | | | | | | | | | | | | | | | | | | | | | TAK |TAK=Akio}}
{{tree chart|border=0| | | | | | | | | | | | | | | | | | | | | | | |!| }}
{{tree chart|border=0| | | | | | | | | | | | | | | | | | | | | | | TDA |TDA=Daisuke}}
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Notes
{{Reflist}}
References
- Hasegawa, Yōzō. (2010). Rediscovering Japanese Business Leadership: 15 Japanese Managers and the Companies They're Leading to New Growth. Hoboken, New Jersey: Wiley. {{ISBN|9780470824955}}; [https://www.worldcat.org/oclc/435422498 OCLC 435422498]
{{S-start}}
{{s-bus}}
{{s-bef|before=Takeshi Uchiyamada}}
{{s-ttl|title=Chairman of Toyota|years=2023–present}}
{{s-inc}}
{{succession box
| before = Katsuaki Watanabe
| title = President and CEO of Toyota
| years = 2009–2023
| after = Koji Sato
}}https://global.toyota/en/company/profile/executives/koji_sato.html
{{S-end}}
{{Authority control}}
{{DEFAULTSORT:Toyoda, Akio}}
Category:Babson College alumni
Category:Chief executives in the automobile industry
Category:Japanese chief executives
Category:Keio University alumni
Category:Keio Senior High School alumni
Category:Japanese racing drivers
Category:Officers of the Legion of Honour
Category:Toyota Gazoo Racing drivers
Category:Nürburgring 24 Hours drivers
Category:Presidents of the Japan Automobile Manufacturers Association