In 2023, after more than a decade at the helm of Toyota, Akio Toyoda stepped aside as CEO, and Koji Sato took his place. Now, just three years later, Toyota's executive structure is undergoing another reshuffling, with Sato set to be replaced by Toyota chief financial officer Kenta Kon.
Kon will take over the role of CEO on April 1, bringing a more business-focused approach to leading the company after the previous two CEOs, who both had more of a background in automotive engineering. Before his stint as Toyota CEO, Sato had served as president of the Lexus brand and Gazoo Racing (GR), Toyota's motorsports and performance car division, which has grown in importance over the past several years.
Kon will focus on improving Toyota's profits, aiming to establish a good profit structure and use that money for the future of the company. The changes are meant to lessen Sato's workload, allowing him to focus on the broader industry as Vice Chairman and CIO.
Meanwhile, Sato will transition to become vice chairman and chief industry officer. Kon's current job of CFO will be filled by executive vice president Yoichi Miyazaki, who has previously served in that role.
Toyota says the changes are necessary to ensure a smooth leadership transition and allow the company to continue its growth and innovation. The new CEO is expected to bring a fresh perspective to the company, with a focus on business strategy and financial management.
With Kon at the helm, Toyota is poised to face new challenges and opportunities in the rapidly changing automotive industry.
The appointment of Kenta Kon as new CEO marks an important shift for Toyota, bringing a more business-focused approach to leadership after two CEOs with a stronger engineering background. As the company continues to grow and innovate, it will be interesting to see how Kon's focus on profit structure and financial management impacts the company's long-term strategy.
