Toyota Motor Corp. unveiled several changes to its senior management as Koji Sato prepares to take over as chief executive officer, seeking to improve the carmaker’s strategy and messaging in the shift to an electric future and to take on Tesla Inc.
Hiroki Nakajima becomes chief technology officer and Yoichi Miyazaki will be chief financial officer from April 1, when Sato is slated to take over from Akio Toyoda, the Japanese automaker said in a statement Monday. Both executives will join the board of directors, along with newly appointed Chief Branding Officer Simon Humphries.
The world’s No. 1 carmaker is spending ¥4 trillion ($31 billion) to roll out 30 electric vehicle models by 2030. Yet, its strategy of offering multiple options for car buyers — gasoline engines, hybrids, battery-based EVs and hydrogen-powered cars — has led to criticism that it isn’t shifting fast enough. At several points during a news conference to announce the new management lineup, Sato spoke about the importance of better communicating Toyota’s strategy.
“The notion that Toyota’s efforts to electrify are lagging — I think half of that comes down to communication,” Sato said. Regarding the company’s new EV platform slated for 2026, he said further details will be announced in April.