Toyota to replace president amid business slump
Wednesday, 24 December 2008
TOKYO, Dec 23 (AFP): Toyota Motor Corp. plans to replace its president after the Japanese carmaker forecast its first-ever operating loss, a report said today.
The auto giant is considering moving vice president Akio Toyoda to the post, which is held by Katsuaki Watanabe, in April at the start of the next business year, the Asahi Shimbun newspaper reported.
Arrangements have been made to give Watanabe a more advisory role of vice chairman, the daily said without citing sources.
No official was immediately available at Toyota's head office to comment on the report.
The auto giant is considering moving vice president Akio Toyoda to the post, which is held by Katsuaki Watanabe, in April at the start of the next business year, the Asahi Shimbun newspaper reported.
Arrangements have been made to give Watanabe a more advisory role of vice chairman, the daily said without citing sources.
No official was immediately available at Toyota's head office to comment on the report.