TOYOTA CITY, JAPAN: Toyota Motor Corporation (TMC) intends to implement changes to its executive structure effective April 1, 2023, and changes to its Board of Directors effective the date of its 119th Ordinary General Shareholders’ Meeting.

Accordingly, Takeshi Uchiyamada will resign from his post as Chairman of the Board of Directors. Akio Toyoda will be appointed the new chairman and Koji Sato the new president and Chief Executive Officer.

The formal appointment of members of the Board of Directors will be formalized after approval at the 119^th Ordinary General Shareholders’ Meeting.

The formal assignment of board members with specific titles, and the appointment of board members with the legal status to represent TMC (representative directors), will be made at the board of directors meeting following the 119th Ordinary General Shareholders’ Meeting.

The resignation of board members leaving their current posts will become official on the day of the 119^th Ordinary General Shareholders’ Meeting.

Toyota Motor Corporation is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on August 28, 1937. Toyota is one of the largest automobile manufacturers in the world, producing about 10 million vehicles per year. – Wikipedia