is a Japanese business executive who is the

chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...

Toyota Motor Corporation is a Japanese Multinational corporation, multinational Automotive industry, automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on August 28, 1937. Toyota is the List of manuf ...

. He was previously the company's president and chief executive officer (CEO). Toyoda is a great-grandson of the industrialist, Sakichi Toyoda, and a grandson of both the founder of Toyota Motors, Kiichiro Toyoda, and the founder of the

Takashimaya is a Japanese multinational corporation operating a department store chain selling a wide array of products, ranging from wedding dresses and other apparel to electronics and flatware. It has more than 12 branches in Japan located in 2 region ...

department stores corporation, Shinshichi Iida. On 1 April 2023, Toyoda stepped down as Toyota president and became chairman of the board. Toyota's chief branding officer and president of the

Lexus is the luxury vehicle division of the Japanese automaker Toyota, Toyota Motor Corporation. The Lexus brand is marketed in more than 90 countries and territories worldwide and is Japan's largest-selling make of premium cars. It has ranked amon ...

division, Koji Sato, succeeded Toyoda as CEO.

Early life and education

Toyoda is the great-grandson of the Toyoda Automatic Loom Works founder Sakichi Toyoda, and grandson of

founder Kiichiro Toyoda. He was born 3 May 1956, in

Nagoya is the largest city in the Chūbu region of Japan. It is the list of cities in Japan, fourth-most populous city in Japan, with a population of 2.3million in 2020, and the principal city of the Chūkyō metropolitan area, which is the List of ...

, to Shoichiro Toyoda and Hiroko (née Mitsui). Toyoda's family line have long dominated the upper management of the family businesses since the days his carpenter-farmer great-great-grandfather, Ikichi Toyoda, taught his son fabrication and carpentry. Akio Toyoda was the chief contender for the family business when Katsuaki Watanabe was reassigned as Vice-Chairman in the wake of the quality control crisis. Toyoda completed his undergraduate degree in law at

Keio University , abbreviated as or , is a private university, private research university located in Minato, Tokyo, Japan. It was originally established as a school for Rangaku, Western studies in 1858 in Edo. It was granted university status in 1920, becomi ...

and was awarded his Masters of Finance at

Babson College Babson College is a Private university, private business school in Wellesley, Massachusetts, United States specializing in entrepreneurship education. Founded in 1919 by Roger Babson, the college was established as the Babson Institute in his We ...

, Massachusetts. He would join the family business in 1984.

Career

As grandson of the company's founder, Toyoda joined Toyota's board of directors in 2000. In 2005, Toyoda was promoted to the position of executive vice president. In January 2009, it was announced that Toyoda was chosen as the forthcoming president of the company.Rowley, Ian
"It's Official: Toyota Scion to Be New Chief,"
''Business Week''. 20 January 2009. On 23 June 2009, he was confirmed as the new president, along with four new executive vice presidents and eight new board members. The previous president and CEO Katsuaki Watanabe became

vice chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...

, replacing Katsuhiro Nakagawa. In 2012, he was named Autocar's Man of the Year.

Master driver "Morizo"

As an avid auto racing fan and driver himself, Toyoda has participated in several auto races under the

pseudonym A pseudonym (; ) or alias () is a fictitious name that a person assumes for a particular purpose, which differs from their original or true meaning ( orthonym). This also differs from a new name that entirely or legally replaces an individual's o ...

Morizo Kinoshita. At the 2009 24 Hours of Nürburgring, he finished 81st overall and third in class in a Lexus IS F, and 87th overall and fourth in class with a Lexus LF-A. At the 2014 24 Hours of Nürburgring, he finished 13th overall and first in class with a Lexus LF-A. At the 2019 24 Hours of Nürburgring, he finished 40th overall and third in class with a Toyota GR Supra GT4. In 2016, Toyoda approved the project that would result in the GR Yaris; during the development of that car, Toyoda (as Morizo) served as a test driver. Morizo crashed the first test car during a mid-winter test drive at a

Hokkaido is the list of islands of Japan by area, second-largest island of Japan and comprises the largest and northernmost prefectures of Japan, prefecture, making up its own list of regions of Japan, region. The Tsugaru Strait separates Hokkaidō fr ...

track; after exiting the car on his own, he remarked that he did not "like the feel of it". As Morizo, Toyoda continued to drive development prototypes, and since the car's release, has campaigned the car in races.

Toyota global recalls and Congressional Statement

In the wake of massive global recalls ballooning to 8.5 million vehicles, Toyoda was invited to testify before the

U.S. Congress The United States Congress is the legislative branch of the federal government of the United States. It is a bicameral legislature, including a lower body, the U.S. House of Representatives, and an upper body, the U.S. Senate. They both ...

on 17 February 2010, which he accepted. A week later, he issued a prepared statement to the Congress. He focused on three key issues: Toyota's basic philosophy regarding quality control, the cause of the recalls, and "how we will manage quality control going forward". On 24 February 2010, accompanied by president and COO of Toyota Motor North America, Yoshimi Inaba, Toyoda testified before the

House of Representatives House of Representatives is the name of legislative bodies in many countries and sub-national entities. In many countries, the House of Representatives is the lower house of a bicameral legislature, with the corresponding upper house often ...

' Oversight and Government Reform Committee. As the scion of a family known for their contributions to automated manufacturing, Toyoda was personally affected by the quality control crises. In his comments he is quoted as being "deeply sorry" and highlighted the relations between Toyota vehicles in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

and Americans for fifty years.

Direction of Toyota

At a press event held on 14 December 2021, Toyota unveiled multiple concept cars with battery electric drivetrains, a sign of faith in the future of the technology. In a later interview, he said "“People are finally seeing reality." ''

The New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...

'' assessed his bet on hybrid vehicles is how the company achieved its 2023 profit of 4.9 trillion yen—the highest in the company's history. Also in 2023, Toyoda stepped down from his role as CEO to become chairman.

Family tree

Notes

References

* Hasegawa, Yōzō. (2010). ''Rediscovering Japanese Business Leadership: 15 Japanese Managers and the Companies They're Leading to New Growth.'' Hoboken, New Jersey: Wiley.
OCLC 435422498
https://global.toyota/en/company/profile/executives/koji_sato.html {{DEFAULTSORT:Toyoda, Akio 1956 births Living people People from Nagoya Babson College alumni Chief executives in the automobile industry Japanese chief executives Keio University alumni Keio Senior High School alumni Toyota people Akio Japanese racing drivers Officers of the Legion of Honour Toyota Gazoo Racing drivers Nürburgring 24 Hours drivers Presidents of the Japan Automobile Manufacturers Association