Toyota Vice Pres. Leroy's Pay Tops One B. Yen for 2nd Yr

Economy

Nagoya, June 22 (Jiji Press)--Executive compensation paid to Toyota Motor Corp. <7203> Executive Vice President Didier Leroy in fiscal 2018 surpassed one billion yen for the second straight year, according to the automaker's financial report.

In the year that ended in March 2019, Toyota paid 1,042 million yen to Leroy, up 16 million yen from the previous year, the report showed on Friday. This is the highest pay for any Toyota executive.

Leroy from France joined Toyota in 1998 after working at French auto giant Renault SA.

In deciding the amount of compensation for Leroy, the automaker apparently took into account pay levels at major U.S. and European companies that are comparatively high, the need to get talented executives to stay at Toyota and the firm's solid earnings performance.

In fiscal 2018, Toyota became the first Japanese company to report consolidated sales of over 30 trillion yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press