Toyota Motor Corporation (TMC) has stated that it will adopt changes to its executive structure on April 1, 2023, as well as changes to its Board of Directors on the date of its 119th Ordinary General Shareholders’ Meeting.

Changes to the executive structure go into effect on April 1, 2023.

Takeshi Uchiyamada will step down as Chairman of the Board of Directors.

Akio Toyoda will be the new chairman, while Koji Sato will be the next president and CEO.

Board of Directors changes that take effect on the date of the 119th Ordinary General Shareholders’ Meeting

The 119th Ordinary General Shareholders’ Meeting will approve the formal appointment of members of the Board of Directors.

The official appointment of board members to specific committees.

Following the 119th Ordinary General Shareholders’ Meeting, the board of directors will formally assign board members with specific titles and appoint board members with the legal status to represent TMC (representative directors).

On the day of the 119th Ordinary General Shareholders’ Meeting, the resignations of board members departing their current positions will become official.