Toyota Is in Transition with a New Name at the Helm

For the first time in 14 years, there's change at the top of Toyota. As Koji Sato picks up the keys from Akio Toyoda, what can we expect?

- Tim Stevens

When Akio Toyoda took the reins as president of Toyota Motor Corporation in 2009, the company was not in a good place. Yes, it led global auto production with 7.2 million units, ahead of GM's 6.5 mils. But Toyota, reeling from the global recession, had just reported its first financial loss in decades and was deep in the throes of its unintended-acceleration controversy, which would result in a $1.2 billion fine in the U.S. Then things got worse. In 2011, the Tōhoku earthquake and tsunami devastated the east coast of Japan, destroying or damaging three of Toyota's factories and knocking many suppliers offline. Touring the devastation soon after, Toyoda said it "totally dwarfed" every other challenge he'd yet faced. Toyota's production stumbled that year, with the company falling to number three. But by the next year, production figures were back on top.

Today Toyota outsells the next-largest automaker Volkswagen by roughly 2 million vehicles annually. As of this writing, it's also the second-most-valuable car company in the world, behind Tesla.

Along with bringing Toyota through an earthquake and global financial peril, Toyoda also won over enthusiasts, racing under his alter ego, Morizo, and spearheading performance cars ranging from the Lexus LFA to the new GR Corolla. While we'll never complain about more performance hot hatches, some pundits fear that Koji Sato will be stuck playing catch-up when it comes to EVs.