Toyota Appoints Kenta Kon as President; CEO Koji Sato Steps Down

• Toyota Motor announced CFO Kenta Kon will take over as president from April, succeeding Koji Sato.
• Koji Sato, who served three years as CEO, will become Vice Chairman and Chief Industry Officer.
• The leadership change coincides with Toyota raising its full-year operating profit forecast by nearly 12 percent.
• Kon's appointment highlights Toyota's focus on financial discipline amid the auto industry's capital-intensive shift towards electrification and software.
• Sato's tenure saw Toyota maintain its top-selling automaker position with a hybrid-first strategy, despite initial criticism for a cautious EV approach.