Toyota to Promote CFO Kon to President

Tokyo, Feb. 6 (Jiji Press)–Toyota Motor Corp. said Friday it will promote Chief Financial Officer Kenta Kon to president and chief executive officer, replacing Koji Sato, who will step aside to become vice chairman. This is the leading Japanese automaker’s first leadership change in three years and aimed at strengthening its earning power by improving its profit structure and reducing costs, amid headwinds from U.S. President Donald Trump’s tariff policy. “Even if the environment is severe, we must make profits and continue our business,” Kon said at a press conference in Tokyo on Friday. “We will create a structure that allows us to stand on our feet during difficult times.” Kon, who has long worked in the accounting field, will become Toyota president on April 1 and is expected to be formally approved as a representative director at a shareholders’ meeting in June. Toyota Chairman Akio Toyoda, a member of the founding family, will retain his post. The company said that Kon has spearheaded efforts to improve its profit structure in recent years, including strengthening a system that generates stable profits from after-sales services, such as parts supply and repair, as well as reducing costs. Meanwhile, Sato will focus on his roles as chairman of the Japan Automobile Manufacturers Association, or JAMA, and vice chair of the Japan Business Federation, also known as Keidanren. “Cooperation across industries will be key,” Sato said. “The (auto) industry will work together to find a path to victory for Japan.” In April 2023, Sato succeeded Toyoda as president. Under Sato’s leadership, the company promoted both gasoline and hybrid vehicles and maintained its top position in global automobile sales. Kon, 57, joined Toyota in 1991 after graduating from Tohoku University. He became an executive vice president in 2022 and assumed his current post in January 2025. END [Copyright The Jiji Press, Ltd.]