Akio Toyoda : The Man to Save Toyota Car Company

Happy Days? New Toyota President, Akio Toyoda....

The grandson of the founder of one of the world's most recognisable brands, Akio Toyoda is set to become the hero or the villain of the Japanese export economy.

Grandson to Toyota company founder Kiichiro Toyoda, 'The Prince' Akio Toyoda was formally approved as president of Toyota Motor Corp. today by the Toyota car company board.

53-year-old Akio Toyoda, has been working for Toyota in Japan for 24 years.

Know to love a fast car, and has driven in competitive race, Akio Toyoda is expected to steer the world's No.1 car and automaker through the worst economic collapse in the car companies history.

Nicknamed "the prince" by Japanese media, Akio Toyoda is the first member of the Toyoda family to run the Toyota car company in more than ten years.
New Toyota President Akio Toyoda with his Lexus Toyota sports car in Germany after a 4 hour racing stint.

Interestingly Akio Toyoda's grandfather slightly altered the family name from Toyota to Toyoda when branding his new car company Toyota.

Like the rest of the worlds car makers, Toyota has been hit very hard by the global financial crisis and economic downturn. Akio Toyoda becomes Toyota president in very tough financial times. Toyota car company posted its first ever annual loss of US $4.5 billion last financial year in Japan. The Toyota motor company also lost some US $7.7 billion in the first three months of 2009, Akio Toyoda's job will be to stop Toyota from bleeding.

In 2008 Akio Toyoda told the New York times his future plans for running the worlds biggest car maker: “If I am going to be at the top of the car company, I want to be the owner-chef,” Akio Toyoda said.

I will run Toyota "With knowledge not just of its vehicles but their ingredients, he said. As such, “I taste my car, and if it tastes good, I provide it to the customer.”

The positive new Toyota President Akio Toyoda is set to face comparisons with his father, 83-year-old Shoichiro Toyoda, who was Toyota president from 1982 to 1992.

Joining Toyoto is 1984, Akio Toyoda first started as a management trainee, and spent time working on the Toyota assembly floor, working as a Toyota car salesman and plenty of other roles from production to purchase of the Toyoto car product.

A car enthusiast in his personal time, Akio Toyoda also enjoys going out with Toyota’s test drivers for new Toyota car makes, and also immersing himself through Toyota’s competitor’ cars.

With a law degree from Keio University in Japan, Akio Toyoda also has an M.B.A. from Babson College in Boston. During his time in the US, Akio Toyoda worked on Wall Street as an investment banker with financial firm A. G. Becker

“Everyone says Toyota is the best company in the world, but the customer doesn’t care about the world. They care if we are the best in town, or not. That’s what I want to be.”