Toyota founder's grandson to be head
21-01-2009
Japan's Toyota Motor Corporation has named Akio Toyoda, grandson of the company's founder, to head the world's biggest automaker and lead it through the global crisis that has slashed demand for cars worldwide. Mr Toyoda joined the board of directors in 2000 after 16 years with the company. He faces a tough challenge. Toyota and its rivals are grappling with slumping sales in North America, Europe and Japan amid a spreading recession in rich countries. Sales are also slowing in emerging markets such as China and Russia.
