“Toyota Motor is planning one of the most drastic management overhauls in its 70-year history next month when Akio Toyoda, grandson of the Japanese car company’s founder, takes over as Chief Executive,” the Financial Times said.
Toyota, which has posted a net loss of $4.5 billion in recent financial year, would replace 40 per cent of its senior managers and is said to be preparing a sweeping reorganisation of its key North American business that would unify its separate sales and manufacturing arms, the report said.
Earlier in January, the company had said Toyoda currently an Executive Vice-President, would replace Watanabe after shareholders approval on June 23, 2009.
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