Prospective Qualities Akio Toyoda Seeks in His Potential Successor

Akio Toyoda, President of Toyota, addressed the General Shareholders' Meeting with a clear vision for the company's future. Having faced numerous challenges during his tenure, including the Great East Japan Earthquake and floods in Thailand, Toyota's leader has demonstrated resilience and a strong commitment to the company.

Toyoda believes in working for others, not just for himself, as evidenced by his work as JAMA chairman and his focus on resolving past issues. This approach is reflected in his stance on choosing a successor. Toyoda seeks an individual who has a deep understanding of Toyota's culture and philosophy, emphasising leadership qualities, commitment to innovation, and the ability to navigate global challenges.

Toyoda highlighted the importance of empathy, winning hearts, and maintaining smiles in Toyota's approach to producing happiness for all. He believes that his transformation of Toyota over the past 13 years was achieved by encouraging employees to strive for making ever-better cars, rather than leading through numerical targets.

The TPS philosophy and techniques, initially limited to production, have become a companywide skillset used by everyone from office staff to developers. This expansion is evident in Toyota's wide variety of products, which have become the preferred choice of customers worldwide.

Toyota's mission, as stated by Toyoda, involves nurturing individuals to respond with pride, confidence, and ambition by passing on the legacy of Toyota's skills and philosophy. To achieve this, Toyota has appointed three executives as vice presidents in April: Kenta Kon (Chief Financial Officer), Masahiko Maeda (Chief Technology Officer), and Masanori Kuwata (Chief Human Resources Officer).

Banto Koji Kobayashi, who has worked with Akio Toyoda for more than 30 years, shared his thoughts on Akio's potential successor. SPARX Group CEO Shuhei Abe described Akio Toyoda as transforming Toyota by putting its time-honoured philosophy and skills into practice at the genba, ranging from car development to sales.

Akio Toyoda continues to prioritise developing people and demonstrating the company's philosophy, skills, and conduct through his actions. He has laid the groundwork for the next generation by establishing management structures and cultivating personnel. Akio expressed a desire to ensure that the next president is someone who is widely accepted and considered by all.

The book titled "Toyota Revolution for 'Iemoto' Organization-Ever-Growing Company's Philosophy, Skills, and Conduct" was distributed to shareholders, likening Akio's management to the "Iemoto (master of the house)" system found in traditional Japanese culture. This book serves as a testament to Akio's dedication to Toyota and his vision for the company's future.

In a recent cyber security incident at Kojima Industries, Toyoda demonstrated his hands-on approach by visiting in person and acting swiftly to address the issue. This action underscores his belief in leading by example and his commitment to maintaining Toyota's high standards.

As Akio Toyoda prepares to step down, he leaves behind a legacy of resilience, innovation, and a deep commitment to Toyota's philosophy and people. His focus on nurturing individuals and fostering a culture of continuous improvement has positioned Toyota for continued success in the future.