Toyota Motor's wonder declaration Thursday of a change in its top management got here as CEO Akio Toyoda, the grandson of the founder, picked an executive extra than 10 years more youthful than him as his successor at a time whilst the global auto enterprise faces a once -in-a-century paradigm shift pushed by way of decarbonization and digitization.

the head of the automobile institution's Lexus brand operation Koji Sato, fifty three, becomes CEO in April while 66-yr-antique Toyoda who has led the enterprise since 2009 will become chairman, allowing him to dedicate greater time to lobbying sports.

Toyoda is currently the chairman of the Japan vehicle manufacturers affiliation.