Japanese automaker Toyota Motor recently announced that current ceo and president of the company Akio Toyoda will step down this year, and his successor has also been selected. 

Akio Toyoda will step down on 1 April and will be replaced by Koji Sato, Toyota's current chief brand officer and operating officer. Akio Toyoda will then become chairman, replacing Takeshi Uchiyamada, who will remain as a board member. 

This change indicates Toyota may end its relatively reluctant attitude towards battery electric vehicles, Kallanish understands. 

During an online conference held on 26 January, Toyoda said: "We believe that the best way to advance Toyota's transformation further is for me to support the new president as chairman."

He added: "The mission of the new team is to fully change Toyota into a mobility company. I believe the new management team will be able to do what I was unable to do.”

Uchiyamada mentioned he has been looking for a good time to make a transition to the younger generation.

Sato comes from an engineering background and has been focusing on Toyota's luxury brand Lexus. He is also the president of Lexus International and the president of GAZOO Racing Company, Toyota's motorsport and performance road car brand, according to Toyota.