[BForbes]

Toyota, reeling from its first-ever fiscal year loss last year, will apparently shake things up at its Japanese headquarters by replacing 40 percent of its senior management - and a report indicates that the automaker might do the same in North America. The changes will be the first implemented by new CEO Akio Toyoda, grandson of the automaker’s founder, when he takes over next month.
According to the Financial Times, the changes will signal a major departure from current CEO Katsuaki Watanabe, who will become vice chairman of the automaker.
“Some people are calling this a revolution or even a coup d’état ,” Koji Endo, an analyst Credit Suisse, told the publication. “The size of the [financial] loss is huge. Somebody has to take responsibility for that.”
Toyota lost about $4.6 billion last year, though its cash reserve puts it in a stronger position than Detroit rivals General Motors and Chrysler.
Half of Toyota’s board of directors will be replaced, according to the automaker.
Future CEO Toyoda will also reinstate several former managers who had left the company for other positions, including former head of U.S. sales and marketing Yoshimi Inaba, who currently runs the Nagoya airport in Japan. Inaba is perhaps best known to Americans as the developer of Toyota’s Project Genesis, which ultimately led to the creation of the youth-oriented Scion brand.

You knew some people were gonna get clipped. I have a feeling that Toyoda has been aching to replace a few people. The global economy shrinking and their big loss makes it that much easier. 40% of Senior Management?? If only other car companies did this earlier in the decade when their loses became apparent. Lets see what Mr. Toyoda does with his grandfathers creation.
I would've liked to be in that room when they decided these people have to go. They might not be a sport car enthusiast company, but they are all about that bottom line. I can respect that.

http://www.leftlanenews.com/toyota-to-scra...n-overhaul.html

[jeremyc74]

Toyota has been having significant issues lately, not only with the financial problems, but with quailty, and it's hurting them. The fiasco with the massive truck frame scrapping/replacement/recall had to be a HUGE hit, and made a lot of people question their rock solid reputation.

It doesn't surprise me that heads are about to roll.

[vgame64]

Hrm...beyond Lexus I don't see any exciting products from them anyways. This probably would be a decent time to bring out a new Supra to compete with the Camaro, Challenger, G37, Genesis coupe, etc.

[warmtoes]

Figures they would make changes. Surprises like this are not taken well by Japanese companies. What's the Gangsters reference? I don't get that.

[BForbes]

Originally Posted by warmtoes

Figures they would make changes. Surprises like this are not taken well by Japanese companies. What's the Gangsters reference? I don't get that.

I meant they are cutting a lot of people. They dont seem to care. GM or the like would've let so many stick around. Toyota is still a very large company. 40% of senior mangers and half of the board being replaced is LARGE. I dont think its entirely the managers fault. Nobody could have predicted a global collapse.

[vgame64]

Originally Posted by BForbes

I meant they are cutting a lot of people. They dont seem to care. GM or the like would've let so many stick around. Toyota is still a very large company. 40% of senior mangers and half of the board being replaced is LARGE. I dont think its entirely the managers fault. Nobody could have predicted a global collapse.

That is why GM is failing. Having to retain such a large workforce due to unions, loyalty, etc and giving them all great benefits + retirement benefits results in a more expensive car.

Toyota's harsh policies will help keep them afloat despite the economy as long as they keep making relatively inexpensive, reliable, and utilitarian cars that are desired by many.

[gshb]

its not about laying off the assembly line worker. its half the board of directors and 40% of senior managers. basically getting new leadership. something the D3 should have gotten a long long time ago.

theres toyota "taking care of business" and then theres chrysler trying to get around executive pay caps.

[canucklion]

I still don't get the 'gangster' reference. I suggest a title change; I thought I was going to read about yakuzas controlling Toyota when I clicked on this thread

Originally Posted by BForbes

I meant they are cutting a lot of people. They dont seem to care. GM or the like would've let so many stick around. Toyota is still a very large company. 40% of senior mangers and half of the board being replaced is LARGE. I dont think its entirely the managers fault. Nobody could have predicted a global collapse.

[BForbes]

Originally Posted by canucklion

I still don't get the 'gangster' reference. I suggest a title change; I thought I was going to read about yakuzas controlling Toyota when I clicked on this thread

Suggestion noted.

[Yoshii]

damn

[lyndon_h]

Originally Posted by canucklion

I thought I was going to read about yakuzas controlling Toyota when I clicked on this thread

I thought the very same thing.

[HebbNH]

Originally Posted by lyndon_h

I thought the very same thing.

Haha yeah same here.

[Spartikus]

Looks like Toyota is taking care of business, as usual. Nothing to see here folks.

[Kev]

Originally Posted by vgame64

Hrm...beyond Lexus I don't see any exciting products from them anyways. This probably would be a decent time to bring out a new Supra to compete with the Camaro, Challenger, G37, Genesis coupe, etc.

With the global economy in the dumps right now, it'd be stupid for Toyota to bring back their lines of coupes. The demand for said cars globally is not that high to start with and is not likely to go up in the next 12-24 months. They are a niche automaker and have been known to the US for producing cheap yet reliable vehicles. It would be financially irresponsible for them to introduce a new line of coupes at this time. They could better use their assembly line to make Corolla and Prius and the like.

With the new Prius, Toyota's factory is slowly picking up pace again. Recently, their works at the Toyoda factory, where Prius is made, started working over time again due to the new orders of Prius that came in. This is what's going to save the company.

I'm going to go as far as predicting that the LF-A will either be delayed or sent to the chopping block.

Originally Posted by HebbNH

Haha yeah same here.

+2

[BForbes]

Originally Posted by Kev

I'm going to go as far as predicting that the LF-A will either be delayed or sent to the chopping block.

The Lexus LF-A 500-horsepower supercar will be announced as a production machine at the Tokyo show on October 21. Toyota put the car on hold (Trend, March 2009) in the midst of the global economic/auto industry crisis. Its production level will be far lower than that of the Nissan GT-R, with a pricetag doubling or perhaps tripling the GT-R's window sticker.

So why, in the current grim automotive climate, has the car finally been green-lighted? First of all, the LF-A was originally conceived as a celebration of Toyota's Formula One team, whose relative success this season may have helped revive the supercar. More importantly, its chief sponsor inside Toyota Motor Company is the new president, who steps up to the position this month. Akio Toyoda, 53, isn't just a grey business leader in a suit. He's the grandson of the company founder, and also a keen fast-car enthusiast. How keen? The driver roster for the Nurburgring race includes a pilot going under the pseudonym 'Morizo.' We understand Morizo is none other than the new boss man himself.

http://www.motortrend.com/features/a...ion/index.html