Toyota has appointed a new executive, promoting Kenta Kon, the CFO responsible for finances, to the position of Chief Executive Officer (CEO) overseeing all sectors of the company.
On 6 Feb 2026 GMT+7, Toyota Motor Corporation announced that Mr. Koji Sato, CEO of Toyota, will step down after just three years in the role. He will move to a newly created position as Chief Industry Officer and serve as Vice Chairman, focusing on the broader automotive industry.
Mr. Kenta Kon, currently Chief Financial Officer, will succeed as CEO.
Toyota stated that in his new role, Kenta Kon will focus on internal company management, while Sato will concentrate on the overall automotive industry and related businesses, aiming to accelerate decision-making amid significant industry changes.
Reuters noted that this leadership change was unexpected by the market. Toyota announced it alongside its Q3 financial results, which included nearly a 12% increase in the full-year profit forecast, supported by a weaker yen and cost-control measures.
James Hong, head of automotive research at Macquarie Group, said the shift reflects an internal regime change at Toyota, as the company must make more strategic decisions beyond just the automotive business.
Sato became CEO in April 2023, succeeding Akio Toyoda, the founder's grandson. His tenure began amid criticism of Toyota's lagging electric vehicle market share, but his strategy focusing on hybrids proved successful, driving record sales and helping Toyota regain the title of the world’s largest automaker last year.
At the same time, Toyota lost some market share to faster-adapting Chinese rivals like BYD in Southeast Asia and has faced ongoing governance criticisms, especially regarding the planned acquisition of Toyota Industries.
Analysts say Kenta Kon was a key figure behind that deal and has more financial expertise than Sato, who came from a product development background. Kon’s promotion to CEO may help Toyota better address financial and governance challenges moving forward.
Sources: Reuters and Nikkei Asia