Toyota's chief executive will step down as head of the company his grandfather founded, the automaker said on Thursday, handing over to the leader of its Lexus luxury brand as the Japanese giant struggles to meet the shift to electric vehicles.
The 53-year-old chief branding officer and president of Toyota Motor Corp's Lexus brand, Koji Sato, will take over from April 1 when Akio Toyoda becomes chairman, it said.
