Toyota's Cho Will Not Go

WASHINGTON February 23, 2004; Takeshi Takeuchi writing for Dow Jones reported that Toyota Motor Corp. will keep president Fujio Cho in his current position beyond June, when his current term expires, the Japanese daily Yomiuri Shimbun reported on its Web site Monday.

Some insiders had been speculating that Cho, 67, would retire in June because Japan's biggest automaker sets the retirement age of presidents at 65.

But because large-scale investment projects, such as the construction of new production facilities in Europe and the U.S., are still in progress, Toyota decided to keep Cho at its helm, the daily said without quoting sources.

-By ,