Toyota Motor trims executive positions

TOKYO: Toyota Motor Corp has reduced its number of top positions to speed up decision-making, as the Japanese automaker works toward a slimmer executive to better compete in an industry undergoing rapid change.
The move comes as the world’s second-ranked automaker by sales, after Germany’s Volkswagen AG, hopes to quicken decision-making to regain the lead in an industry increasingly focused on new technologies, including automated driving and low-emission power units.
The Japanese automaker on Wednesday said in a statement it would reduce its board of director positions to nine from 11.
Under the new structure, only President Akio Toyoda and Chairman Takeshi Uchiyamada will remain representative directors after Toyota cut the number of such posts from six. — Reuters