Toyota Motor plans to carry out one of the most drastic management overhauls in its 70-year history next month when Akio Toyoda, grandson of the Japanese car giant's founder, takes over as chief executive.
The company, which has been shaken by an unprecedented Y437bn ($4.6bn) net loss in its most recent financial year, will replace 40 per cent of its senior managers and is said to be preparing a sweeping reorganisation of its key North American business that would unify its now separate sales and manufacturing arms.
Analysts and company insiders say the changes are designed to cement the leadership of Mr Toyoda, 52, and to signal a clear break with the regime of Katsuaki Watanabe, the current chief executive, who will leave day-to-day management to become vice-chairman.
"Some people are calling this a revolution or even a coup d'état ," said Koji Endo, motor industry analyst at Credit Suisse. "The size of the [financial] loss is huge. Somebody has to take responsibility for that."
2010 Lexus IS-C And HS250H Photo Gallery
2009 Lexus LX570 Photo Gallery
2009 BimmerFest Photo Gallery
2010 Mercedes-Benz E-Class Photo Gallery
If you want to see your photos running on our homepage photo ticker, be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com
There are photos and then there are AutoSpies.com photos!
AutoSpies.com is ranked number one on Google search for auto shows
Read Article