URGENT: Toyota honorary chairman Shoichiro Toyoda dies at 97
Shoichiro Toyoda, the honorary chairman of Toyota Motor Corp. who transformed the Japanese automaker into a leading global brand, died of heart failure on Tuesday, the company said. He was 97.
Toyoda, a third-generation scion of the founding family who inherited its stake in the business, is credited with establishing a culture of quality control at the firm, helping it evolve into a world-leading automaker. He was also responsible for pushing Toyota, which started as a loom manufacturer, to produce vehicles overseas.