All in the family: Toyoda grandson to take top job
The Associated Press is reporting that Toyota will once again have a Toyoda at the helm before long. Akio Toyoda, the 52-year-old grandson of Toyota Motor Corp's founder, Kiichiro Toyoda, is reportedly about to be voted in by the board. If everything goes as planned, he will officially take over the presidency in June. It will be the first time in 14 years that a Toyoda will lead the company, but Akio isn't your father's Toyoda. He is known for being a lot more laid-back than the typical Japanese executive, which might help rejuvenate the company.
Current president Katsuaki Watanabe is on his way out as Toyota faces its first projected operating loss in the company's 70-year history. Just like the rest of the world, Toyota sales have slumped and the automaker has had to cut production and lay off temporary workers. Although Toyota remains predictably tight-lipped on the move, it's expected that Watanabe will become a vice chairman, with current chairman Fujio Cho keeping that position. Toyoda has been an executive vice president since 2005, so this "prince" (as the Japanese media call him) should be well-prepared for the job. Thanks for the tip, Jarrett!
[Source: Associated Press]
Reader Comments (Page 1 of 2)
esteva03 4:35PM (1/09/2009)
yeah it should stay all in the family. or it should be given to me!!!!
vote for auto blog/!!!!!!!!!
YOU CAN VOTE AGAIN TODAY!!!!!!!
VOTE POR AUTO BLOG!!!! ES EL MEJOR BLOG DE AUTOS DEL MUNDO!!!!
(crossing the language barrier... anyone kno german or french?)
http://2008.weblogawards.org/polls/best-major-blog/
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John 4:37PM (1/09/2009)
Considering what has been said about Akio Toyoda, he may be our best chance for Toyota quality, that doesn't get wrapped in a genero-bean shape, and less than engaging driving dynamics. Fingers crossed!
JM 5:20PM (1/09/2009)
The way this guys carries his bearings, you might think he is a senior member of the Power Rangers.
snp 5:23PM (1/09/2009)
If history is accurate, he will fail miserably. Sons and daughters of the uber wealthy rarely do well. They lack the understanding of hard work = victory and rewards. The previous toyota ceo did fairly well and his only fault was pursuing profits too aggressively. Nissan, Ford, GM, Chrysler did that too. The only one was Honda. And if the economy/housing didnt collapse that caused the domino effect, Honda would've been accused of not being profitable enough. Toyota quality remained high, worker relationships are high, products being put out are valued and it was during Ken's tenure that toyota received the "green" title. This is a foolish time to make such a switch. Toyota marked their doom when they began growing at an excessively high pace in the usa. It kept their market perspective overly bullish. Introduce the volatility and auto market collapse and it's the equivalent of an 80mph tundra towing a trailer downhill and the brakes dont work.
Human Powered 8:08PM (1/09/2009)
snp
What you are observing is more an artifact akin to regression toward the mean than grounds for stating that they weren't taught work ethic etc. People that are very successful are outliers so it is natural to expect their children to be less successful simply because the level of success obtained by their parent(s) is very unlikely. Similarly if Yao Ming were to have children it is unlikely that they would be as tall as he is since he is so far above average.
Sea Urchin 4:42PM (1/09/2009)
As i understand it there was some heavy behind the scene drama in here, WSJ covered it a bit, how come Autoblog wasn't in on it.
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JD 4:52PM (1/09/2009)
Good for Toyota...now go and vote for AutoBlog. It is your duty lol:
http://2008.weblogawards.org/polls/best-major-blog/
AB should have a link to this on their frontpage to make it more accessible.
This can be easily won based on the current poll.
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Jason 4:56PM (1/09/2009)
I am also excited to see a Toyoda back as the company's President. I feel as if Toyota's quality has been falling behind in the last five years or so as well as their original "flare" that the company was founded on. Hopefully now we will see the return of the Supra to once again compete with the Corvette and new Nissan GT-R as well as another Celica and more interest in the 4WD SUV's Toyota was once known for...Land Cruiser and 4Runner could use a little bit more of the company's attention. I was always a huge Toyota fan throughout the 80s and 90s...but everything coming out of their plants over the past 10 years have been boring soccer mom vehicles. This should change with Toyoda as president.
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snp 5:33PM (1/09/2009)
@Jason,
Your feelings of quality count for nothing. Toyota is still at the top of their game in terms of quality. It's a power grab by the aristocratic offspring who feel it's their turn to lead. Toyota will likely fall behind in the next 2-5yrs. The only thing toyota's CEO did wrong was aggressively pursue SUVs and pickups in the US segment and then things started to fall globally. As an avid defender of pre Toyoda Toyota, Honda, post Ford Ford, and post Gohsn Nissan, I think we know who will be #1.
hashiryu 8:12PM (1/09/2009)
Sure snp, do you have the minutes from the last board meeting by the way?
This guy has been groomed for the job. Watanabe is nearing retirement time, he will be 67 next month.... hence the change. Nothing more nothing less.
I think this could be a good thing. This guy is into cars and racing. It could be the best thing that happened to Toyota since 1998. He could be to Toyota what Hirotoshi Honda was to his fathers company in the 90's.
chconline 5:13PM (1/09/2009)
If he leads Toyota back into the direction of:
- High quality cars
- (At least some) Cars with a soul
= Win.
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dukeisduke 5:53PM (1/09/2009)
Well, if the picture's any indication, he looks like a car guy. Which is a good thing.
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xpolarx 5:56PM (1/09/2009)
Holy nepotism...I wish my granddaddy started a billion dollar company.
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MachinaDC5 6:09PM (1/09/2009)
More laid-back than the typical Japanese businessman... so... only slightly extremely not laid back then?
I hope he likes RWD and turbos, that's all I'm sayin'.
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P.V. 7:33PM (1/09/2009)
Other people may have said this before, but things I want from this guy:
-Better (build/materials) quality cars (I've sat in the new Corolla and Camry, and they definitely don't exceed or even meet competitors' quality)
-More fun-to-drive cars (hopefully the Toyota-Subaru successor to the AE86 will happen)
-Green cars that are distinguishable as eco-friendly without looking ugly ([cough] PRIUS [/cough])
If he does these things, I will be a happy man.
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Nick 1:17AM (1/10/2009)
I was in the shop Tuesday with my Z06 for the check engine light/car loses power then returns after a few minutes. So I sat in a Malibu and it wasn't impressive at all.
I've only been in a new Camry and the quality was fine.
Judy Zik 12:30PM (1/10/2009)
...because Toyota's never have check engine lights come on or any problems.
Had a neighbour a couple of years back that bought into that myth. In the span of a year he went through two old Previa's and an old Tercel. He thought it was safe to buy any old car as long as it was a Toyota because they were indestructible. Turned out both the vehicles and his pocket book were easily destructible.
Toyota quality has taken a bit of a drop. Even CR wont give them a free pass on new models any more. It was bound to happen when you expand your product line and your production levels that quickly. More than anything though I think everyone else caught up. Quality is no longer a Toyota and Honda exclusive anymore than safety is a Volvo and Mercedes exclusive. Toyota is facing real competition for Ford and GM for once and will need to respond. They are going to have to start building cars that people want to drive instead of cars you have to drive because everyone else's fall apart.
Frank 7:57PM (1/09/2009)
Hopefully he will be better than Bill Ford Jr.
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CBXweb 8:36PM (1/09/2009)
Maybe he could be the Ben Stiller of Toyota. Watered down but insanely rich?
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JDMlover 8:57PM (1/09/2009)
Love Toyota.
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