Toyota’s incoming CEO Koji Sato has unveiled a new leadership team to help the world’s largest automaker transition into a mobility company in the era of industry upheaval. Sato has pledged to “drastically” revamp the company’s slow-going electric vehicle (EV) strategy with a focus on a next-generation platform expected to arrive around 2026. The team has been appointed to strengthen the company’s Woven-related software-first initiatives, and focus on achieving carbon neutrality in Asia. Sato has also promised to stick with the diverse powertrain strategy pioneered by his predecessor, while also signaling a new sense of urgency in the boardroom. The EV overhaul will focus on new engineering and new manufacturing for the vehicles in an attempt to give them a uniquely Toyota-brand character as well as make the cost competitive. Masanori Kuwata, currently the company’s chief compliance and risk officer and an executive vice president, will be in charge of electrification at the Lexus premium marque. The new leadership injects youth and some measure of diversity, with several of the newly promoted leaders in their early 50s. Toyota’s top management will remain mostly male and Japanese, however, with only one female operating officer, Chief Sustainability Officer Yumi Otsuka. Other key members of the new team include Tetsuo “Ted” Ogawa, 63, current CEO of Toyota’s North America Region, and Simon Humphries, 55, global design chief. Last week, Chief Communication Officer Jun Nagata likened Sato to the coach of a World Cup soccer team who is reordering the player formation to take on a new opponent.
Toyota Motor Corp. is undergoing a major transformation in its leadership and strategy as the company seeks to become a mobility company and keep up with the rapidly growing electric vehicle (EV) segment. The company’s incoming CEO, Koji Sato, has pledged to “drastically” revamp the carmaker’s slow-going EV strategy with a new leadership team he just unveiled to reinvent the world’s largest automaker. Sato has appointed a new top executive to steer the push, starting from Lexus, and has prioritized a three-pronged strategy after he succeeds Akio Toyoda, 66, as CEO on April 1. This includes ramping up the carmaker’s EV strategy, strengthening the company’s Woven-related software-first initiatives, and focusing on achieving carbon neutrality in Asia.
While Toyota will continue to develop its trademark hybrid, plug-in hybrid and hydrogen-powered cars in addition to pursuing EVs, Sato has promised big changes to the company’s battery electric product plans. Toyota is targeting global sales of 3.5 million EVs by 2030, which will require a rapid climb from the 24,466 pure electrics sold in 2022. To achieve this, the EV overhaul will focus on new engineering and new manufacturing for the vehicles in an attempt to give them a uniquely Toyota-brand character as well as make the cost competitive. Masanori Kuwata, currently the company’s chief compliance and risk officer and an executive vice president, will be in charge of electrification at the Lexus premium marque.
The new leadership team injects youth and some measure of diversity, with several of the newly promoted leaders in their early 50s. Toyota’s top management will remain mostly male and Japanese, however, with only one female operating officer, Chief Sustainability Officer Yumi Otsuka. Other key members of the new team include Tetsuo “Ted” Ogawa, 63, current CEO of Toyota’s North America Region, and Simon Humphries, 55, global design chief. Chief Communication Officer Jun Nagata likened Sato to the coach of a World Cup soccer team who is reordering the player formation to take on a new opponent.
Toyota’s new leadership team and EV strategy is a significant step forward for the company as it seeks to become a mobility company in the era of industry upheaval. As Toyota’s current executive vice presidents are tasked with new oversight duties, the company is hoping the new leadership team and EV strategy will help it to better channel Toyota’s brand identity and its prowess as a low-cost, efficient manufacturer. With the team now in place, Toyota is hoping to deliver attractive EVs to more customers, streamline the structure of the car, and drastically change the way it does business.
Toyota Motor Corp. is undergoing a major transformation in its leadership and strategy as the company seeks to become a mobility company and keep up with the rapidly growing electric vehicle (EV) segment. The company’s incoming CEO, Koji Sato, has pledged to “drastically” revamp the carmaker’s slow-going EV strategy with a new leadership team he just unveiled to reinvent the world’s largest automaker. Sato has appointed a new top executive to steer the push, starting from Lexus, and has prioritized a three-pronged strategy after he succeeds Akio Toyoda, 66, as CEO on April 1. This includes ramping up the carmaker’s EV strategy, strengthening the company’s Woven-related software-first initiatives, and focusing on achieving carbon neutrality in Asia.
Sato’s new leadership team injects youth and some measure of diversity, with several of the newly promoted leaders in their early 50s. Toyota’s top management will remain mostly male and Japanese, however, with only one female operating officer, Chief Sustainability Officer Yumi Otsuka. Other key members of the new team include Tetsuo “Ted” Ogawa, 63, current CEO of Toyota’s North America Region, and Simon Humphries, 55, global design chief. Chief Communication Officer Jun Nagata likened Sato to the coach of a World Cup soccer team who is reordering the player formation to take on a new opponent.
Toyota is targeting global sales of 3.5 million EVs by 2030, which will require a rapid climb from the 24,466 pure electrics sold in 2022. To achieve this, the EV overhaul will focus on new engineering and new manufacturing for the vehicles in an attempt to give them a uniquely Toyota-brand character as well as make the cost competitive. Masanori Kuwata, currently the company’s chief compliance and risk officer and an executive vice president, will be in charge of electrification at the Lexus premium marque. Toyota also announced new executives to fill Sato’s shoes at Lexus and Gazoo Racing.
The EV overhaul will focus on new engineering and new manufacturing for the vehicles in an attempt to give them a uniquely Toyota-brand character as well as make the cost competitive. Areas of study include thermal management, electricity management and aerodynamics. Toyota is hoping to find a characteristic unique to Toyota and accelerate specific and concrete activities to achieve its goals. The company is also looking to streamline and reform its manufacturing process to make the EVs in a new, more efficient way.
Toyota’s new leadership team and EV strategy is a significant step forward for the company as it seeks to become a mobility company in the era of industry upheaval. With the team now in place, Toyota is hoping to deliver attractive EVs to more customers, streamline the structure of the car, and drastically change the way it does business. The company is hoping the new leadership team and EV strategy will help it to better channel Toyota’s brand identity and its prowess as a low-cost, efficient manufacturer. With the right leadership in place and a focus on new engineering and manufacturing, Toyota is well-positioned to take on the challenge of becoming a mobility company in the new era of industry upheaval.
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