Toyota has had number of chiefs over its 76-year history, but none ever served as long as Eiji Toyoda. The younger cousin of the company's founder served as president of the automaker from 1967 to 1982 and as chairman of the Toyota Motor Corporation for another ten years following the unification of the manufacturing and sales divisions.
The chief executives of any two companies will inherently have something in common to share. All the more so for the CEOs of automakers, never mind how big or how small. But Akio Toyoda and Ulrich Bez share more than job descriptions. The heads of Toyota and Aston Martin also share a passion for motorsports and actively race themselves.
Akio Toyoda, president of Toyota, has stated that the Japanese automaker is planning to revise its earnings forecast due to the fact that the Yen has reached a 15-year high. The full-year profit forecast was based on a rate of 90 Yen to the US Dollar. It will be reduced to around 80 Yen to USD. The Yen has risen 15 percent against the USD and 13 percent against the Euro, which is not good for a company that has to repatriate earnings from its overseas sales.
Behind the Scenes at Toyota's R&D Center – Click above for high-res image gallery
During a interview with a group of American media this afternoon in Nagoya, Japan, Toyota president Akio Toyoda revealed that his company is already in the process of building a prototype electric vehicle with a Tesla battery pack. The statement came in response to questions about the relationship between Toyota and Tesla. As time ran out, we did not have an opportunity for further follow-up or clarification.
Now there's some sad things known to man, but ain't too much sadder than the tears of a... CEO? Apparently, at least one Toyota shareholder has seen enough tears and weeping from the company's not-so-fearless leader.
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If you saved your company $1 million, you'd brag about it, right? How about $100 million? Certainly you'd be looking for a few pats on the back for such a massive sum of loot. A report in The Detroit Free Press reveals that Yoshimi Inaba, chairman and CEO of Toyota Motors Sales in the U.S., allegedly did such bragging back on July 6, 2010, but the topic was "Wins for Toyota" and the subject was safety.
The Toyoda family has felt the pinch of the global automotive crash in the worst possible place: their wallets. Toyota share prices have plummeted by a very substantial 46% in the past nine months, costing the Toyoda family hundreds of millions of dollars. Soon-to-be company president Akio Toyoda's 4.6 million Toyota shares has dropped $145 million; a fantastic decline, but less than half of his father's loss. Former company president and honorary chairman Shoichiro Toyoda has lost $304 million
The Automotive Hall of Fame has added five new inductees to its ranks. A.J. Foyt, Dan Gurney, Charles B. King, Sergio Pininfarina, and Shoichiro Toyoda were honored with a formal induction ceremony on Tuesday, October 16th, having been named as inductees back in March at the New York International Auto Show. Foyt and Gurney are honored for their racing endeavors as teammates and owners. Charles B. King may be an obscure name to most, but he was a renaissance man who designed, built, and drove th