Toyota CEO Akio Toyoda to step apart, turn into chairman

TOKYO (AP) — Toyota Motor Corp. mentioned Thursday that its CEO and president, Akio Toyoda, will turn into chairman. He will likely be changed as CEO by the automaker’s chief branding officer, Koji Sato.

Toyota introduced the management reshuffle with none forewarning, however it had a full of life promotional video ready to spotlight Toyoda and Sato’s love for electrical autos and quick automobiles.

Sato, 53, has been managing the Toyota group’s Lexus model operations and motor racing.