Toyota Announces Leadership Changes at Daihatsu following Safety Test Misconduct
Toyota Motor Corp announced on Tuesday that both the president and chairman of its subsidiary Daihatsu Motor will step down due to misconduct related to rigged collision safety tests.
New President for Daihatsu
Effective March 1, Masahiro Inoue, Toyota’s chief executive officer for the Latin America and Caribbean region, will replace Soichiro Okudaira as Daihatsu’s president. Okudaira, who had a long career at Toyota spanning nearly four decades before becoming president of Daihatsu in 2017, will be stepping down from his position.
Chairman’s Departure
In addition to the president, Daihatsu’s chairman, Sunao Matsubayashi, will also step down. Toyota confirmed that Matsubayashi will not be replaced.
Partnership Changes
As a result of the safety test certification misconduct, Daihatsu will also be removed from the Commercial Japan Partnership Technologies (CJPT), a commercial vehicle partnership. Toyota announced that Daihatsu’s 10% equity stake in the partnership will be transferred to the company.
Background
Daihatsu became a wholly owned Toyota subsidiary in 2016, and Okudaira became its president in 2017. However, the recent revelations of misconduct in relation to collision safety tests have led to these significant leadership changes.
These latest developments underscore the importance of upholding safety and compliance standards within the automotive industry. As Toyota navigates these changes at Daihatsu, the company remains committed to maintaining integrity and transparency across its operations.
