Font Size

Business

E-mail

Close Window E-mail This Page

Toyota Shareholders Approve New President

Required fields are marked with an asterisk(*)

Recipient E-mail:*
- Your Name:*
- Your E-mail:*
Add a Message:
Send me a copy of this e-mail.

Type the characters in this picture:*

Click here to refresh with new letters

The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

Send E-mail

Print Share + Comments

Jun 22, 2009 11:13 pm US/Eastern

Toyota Shareholders Approve New President

TOYOTA, Japan (AP) ―

Click to enlarge 1 of 1: Akio Toyoda, appointed president of Japanese auto giant Toyota Motor and grandson of Toyota-founder Kiichiro Toyoda, stands in the pits of his Gazoo Racing team on May 21, 2009.
Clemens Bilan/Getty Images

Close

numSlides of totalImages

Shareholders of Toyota Motor Corp. have approved the appointment of Akio Toyoda, the grandson of the company's founder, as president.

The approval Tuesday came amid applause at a general shareholders' meeting at company headquarters for the selection of 29 new directors, mostly company executives and current directors.

Japan's biggest automaker is turning to its founding family roots for leadership as it tackles the worst crisis in its history. Last fiscal year, the company lost 437 billion yen, or about $4.6 billion, and it predicts more red ink this year.

Toyoda will replace the outgoing president, Katsuaki Watanabe, who presided over the shareholders' meeting.