Introduction
Akio Toyoda runs world’s biggest automaker, third largest company overall.
Birth and Parentage
Akio Toyoda was born on May 3, 1956 in Nagoya. He is the grandson of Toyota Motor founder. He is the President and CEO of Toyoda Motor Corporation is a grandson of founder Kiichiro Toyoda the eldest son of Shoichiro Toyoda.
Akio Toyoda Biography
Family Background
The descendants of Sakichi Toyoda, the founder of Toyoda Automatic Loom Works, have dominated the upper management of Toyota Motors, incorporated in 1937. Shoichiro Toyoda born in Nagoya on February 17, 1925, the son of Kiichiro Toyoda, became the president of Toyota between 1941 and 1950; Shoichiro Toyoda became president of the company between 1982 & 1992.
Career
He joined Toyota in 1984, became a board member in 2000 and then became an execute Vice President in 2005. He took charge of Japanese sales and overseas operations. In January 2009, he was announced as the forthcoming president of the company. On June 23, 2009 he was confirmed as the President of the Company.
He received his MBA from Babson College in the United States.
His miraculous efforts
The Industry stalwart was not unaffected by global financial crisis. He closed Japanese plants for 11 days, borrowed money from government-backed bank, posted operating loss of nearly $2 billion in fiscal year ended March 2009. It was the first unprofitable year since 1938. With impressive lineup of fuel-efficient vehicles, including fashionable hybrids, emerged strongly from downturn.