July 24, 2014
TOKYO (AP) - Toyota says it is announcing a new president
Tuesday as it hopes to ride out the biggest crisis in its history.
Japanese media have reported recently that Akio Toyoda, the
grandson of the company's founder, has been tapped to head Japan's
Toyota Motor Corp.
Toyota said the announcement will be made by current president
Katsuaki Watanabe and Toyota Chairman Fujio Cho, a former
president. The company declined to say whether Toyoda would be
present at the announcement.
Toyota said Tuesday it sold 8.972 million vehicles worldwide
last year, down 4 percent, as a global slump in new car sales
overshadowed its race to overtake General Motors as the world's