Toyota Announces Management Change

TOKYO, April 24, 2008; Chang-Ran Kim writing for Reuters reported that - Toyota Motor Corp announced on Thursday a reshuffling of its top management, including the assignment of founding family scion Akio Toyoda to take on overseas on top of domestic operations as executive vice president.

Toyoda, a grandson of company founder Kiichiro Toyoda, will take over responsibility for the overseas business from Tokuichi Uranishi, who will resign as of June, Toyota said in a statement. Toyoda is currently in charge of the Japanese business.

Another executive vice president, Kazuo Okamoto, who heads research and development, will be promoted to vice chairman, leaving Toyota with five executive vice presidents.

A spokeswoman said the company had not decided yet how the roles would be shared by the remaining executives.

Among other changes, Takeshi Suzuki, senior managing director in charges of finances, will resign.

Jim Lentz, president of Toyota Motor Sales U.S.A., will be promoted to become the fourth non-Japanese managing officer along with Real Tanguay, Thierry Dombreval and Didier Leroy. Toyota will have a total 50 managing officers.

All changes are effective at the end of June, when Toyota will hold its annual shareholders' meeting.