Akio Toyoda to step down as Toyota CEO, pass reins to Lexus chief

Akio ToyodaAkio Toyoda, the grandson of Toyota founder Kiichiro Toyoda, is leaving his position as president and CEO of Toyota to become its chairman, the automaker announced on Thursday. His successor has been named as Koji Sato, the current chief of Lexus and chief of Gazoo, the official motorsports department of Toyota and Lexus. Toyota's current...

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