Toyota to Abolish Executive Vice President Posts from April

Economy

Nagoya, March 3 (Jiji Press)--Toyota Motor Corp. <7203> said Tuesday it will abolish its executive vice president posts as of April 1 to streamline them into operating officer positions, in a bid to clarify the roles of its top officials by decreasing layers of management.

Toyota will have 21 operating officers with equal power below the president and separate the officers into four groups by role, including chief officers, in-house company presidents and regional chief executive officers.

Current Toyota Executive Vice Presidents Didier Leroy and Moritaka Yoshida will step down, but Leroy will continue as a board member.

Toyota abolished its managing officer posts in January 2019 in an effort to speed up management decisions to survive the intensifying competition in next-generation technologies and other issues in the auto industry.

"With our changes this time, as well, I have judged that it is necessary for me to directly communicate with the leaders of the next generation and to increase the amount of time for sharing our concerns, by further reducing the number of layers of management," Toyota President Akio Toyoda said in a press release.

[Copyright The Jiji Press, Ltd.]

Jiji Press