Toyota Chairman Steps Down

Washington DC June 25, 2006; Thew AIADA newsletter reported that Toyota Chairman Hiroshi Okuda stepped down on Friday, ending a reign in which he saw the automaker through highly successful times.

One of Mr. Okuda's biggest achievements was Toyota's aggressive expansion of production in the U.S. According to The Wall Street Journal, "Toyota capitalized on popular models and lines, such as the Camry sedan and Lexus luxury cars, to burnish its reputation for quality and reliability and boost its market presence." Okuda will be replaced by the automaker's vice chairman, Fujio Cho.