© Reuters. Daihatsu Motor President Soichiro Okudaira leaves a press convention in Tokyo, Japan December 20, 2023. REUTERS/Issei Kato/File Photograph
TOKYO (Reuters) -Toyota Motor Corp mentioned on Tuesday each the president and chairman of small-car unit Daihatsu Motor will step down following revelations of misconduct associated to rigged collision safety-tests.
Toyota (NYSE:)’s chief government officer for the Latin America and Caribbean area Masahiro Inoue will change Soichiro Okudaira as Daihatsu’s president efficient March 1, the world’s top-selling automaker mentioned in an announcement.
Okudaira had a long-running profession at Toyota spanning practically 4 a long time from 1979 earlier than he turned president of Daihatsu in 2017, a 12 months after the compact automobile maker turned a completely owned Toyota subsidiary in 2016.
Daihatsu’s chairman, Sunao Matsubayashi, can even step down and never get replaced, Toyota mentioned.
Given the misconduct over the protection check certification purposes, Daihatsu additionally can be faraway from a business car partnership often known as the Business Japan Partnership Applied sciences (CJPT), the automaker mentioned in a separate assertion.
Daihatsu’s 10% fairness stake within the partnership can be transferred to Toyota, the assertion mentioned.
