<p>“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.<br />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.<br />Earlier in January, the company had said Toyoda currently an Executive Vice-President, would replace Watanabe after shareholders approval on June 23, 2009.</p>
<p>“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.<br />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.<br />Earlier in January, the company had said Toyoda currently an Executive Vice-President, would replace Watanabe after shareholders approval on June 23, 2009.</p>