Toyota has appointed the grandson of the company’s founder as its new president, as the Japanese carmaker aims to turnaround its fortunes.
Akio Toyoda, 53, faces a tough job, as like most global car firms, Toyota has seen its sales slump in the face of the continuing global recession.
Last month, Toyota reported the biggest annual loss in its history, and it has already warned of worse for this year.
For the year to 31 March, it made a net loss of 437bn yen ($4.6bn; £2.8bn). Full story…
Source: BBC Business News