With the sights set on returning to profitability and maintaining the number one position in the automotive industry, Toyota will begin the reorganization of its corporate structure in what is perhaps its most important markets.
For starters, the number of people which sit on the company's board of directors will be severely reduced, from 27 to 11. From now on, the board will be made up of the chairman, president, five executive vice presidents and four officers with specific tasks. As a result, the decision-making chain will be reduced from three tiers to only two, sending home in the process 17 executives. Says Toyota:
“The changes are intended to create structures that can meet the following objectives: 1) convey customer opinions and on-site information to management in a timely manner, 2) make prompt management decisions based on on-site information and 3) make constant checks as to whether management decisions are acceptable to society.”
As we already told you, the car maker has officially decided to focus mainly on the creation of eco-friendly vehicles, with electric technologies of all types to form the core of the future product lineup. In addition, Toyota will begin to pay much more attention to the launch of the Lexus brand in emerging markets, considered key in achieving the return to profitability Toyota plans with the set of measures announced this week.
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