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Undated photo shows Toyota Motor Corp. President Akio Toyoda and Operating Officer Koji Sato test-riding Lexus's first electric vehicle model, RZ in Japan in this photo provided on Jan. 26, 2023. Kyodo/via Reuters
TOKYO—Toyota’s chief executive will step down as head of the company his grandfather founded, the automaker said on Thursday, handing over to the leader of its Lexus luxury brand.
The 53-year-old chief branding officer and president of Toyota Motor Corp.’s Lexus brand, Koji Sato, will take over from April 1 when Akio Toyoda becomes chairman, it said.
