Hiroshi Okuda steps down as the Chairman of Toyota

Hiroshi Okuda steps down as the Chairman of Toyota

Hiroshi Okuda has stepped down as the chairperson of the world’s second largest automaker Toyota. He had been working as the chairman of this Japanese company since the last 11 years and took it to great heights.

Toyota is closing in on displacing GM as the world’s largest maker of automobiles and would now have Fujio Cho as its new chairman. Cho is currently the company’s vice-chairman.

Okuda would however continue to be associated with the company as a senior advisor. The company is doing well around the world and has shown excellent performance in the US market where they are continuously overshadowing the local rivals including GM, Ford and DaimlerChrylser.

The company also announced that they are appointing Tadashi Arashima as the new CEO of their European operations. He is taking over from Shinichi Sasaki, who is returning to Japan head the automaker’s quality group.