Toyota CEO Akio Toyoda to step aside and be replaced by Lexus chief Koji Sato

TOKYO: Toyota Motor Corp. said on Thursday that Akio Toyoda would step down as president and CEO and hand over the helm of Japan’s largest automaker at a time when the company faces the challenge of adapting to zero-carbon transportation.

Koji Sato, a 53-year-old who is also president of Toyota’s luxury brand Lexus, will become the new CEO, the company said.

The current chairman Takeshi Uchiyamada will drop his chairman title but remain on the board. Toyoda will become chairman in a series of changes that take effect from April 1.