Toyota CEO Places New Auto Plants On Hold Until Restructure Complete

After four tumultuous years bookended by an unprecedented recall crisis and a return to the top of the global auto industry, Akio Toyoda is refashioning Toyota Motor Corp. into a leaner company that's more imbued with the venture spirit of founder Kiichiro Toyoda, his grandfather.

In an exclusive interview with the Associated Press, Toyota's president said he is putting new auto plants on hold for three years and reshaping the automaker's structure to give more autonomy to regional divisions and foreign executives.

During his four years at Toyota's helm, Toyoda has learned the hard way the costs of blindly pursuing growth, a strategy inherited from his predecessor that he ruefully acknowledges got him slammed by a cascade of recalls.

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lexworld - 3/7/2013 1:16:41 PM

+1 Boost

Akio is simply phenomenal. Those of us that are audiophiles should really appreciate and respect someone of this calibre. I think we are very priviledged to still have a living heir of this caliber who is still in his prime, so to speak, at the helm of one of the greatest Automakers ever. Here are a few other great family Auto dynasties. Ferrari, Diamler/Carl Benz, Henry Ford and Kiichiro Toyoda just to name a few. Trust me, there are many more. However, levels of excellence among these dynasties are NOT CREATED EQUAL! I percieve it's in the blood-line and it is what we see manisfested in today's car makers. So, dont be deceived by todays manufacturer and industry HYPE!

lexworld - 3/7/2013 1:19:46 PM

+1 Boost

...Oh, I just had to add Ferdinand Porsche in that family dynasty as well.

lexworld - 3/7/2013 1:23:00 PM

+1 Boost

...Anyway, Seriously speaking, this guys is not messing around. Obviously he's on a very serious mission and has the passion and beyond of his grandfather. Wow.

USNA1999 - 3/7/2013 3:59:43 PM

+1 Boost

Let me see. lots of churn at TM the last few years (firings, recalls, changing strategy). I wonder who is to blame?

lexworld - 3/7/2013 10:16:34 PM

+1 Boost

....Blame is not the issue here. I think it's a reflection of the new Visionary Akio Toyoda. He has that DNA from his ancestors and on top of that he is an extremely passionate individual who happens to also be an heir of the Toyota family Legacy. It's inevitability for TMC and that includes yes, the firings, recalls, changing strategy and all the other failures that go with Icons and Legends.

USNA1999 - 3/8/2013 5:12:42 AM

+1 Boost

lexworld you are a fanatic, I hope you are as obsessed with your loved ones as you are with TM. I find it too funny, there is a reason for all these changes at TM.