Toyota president almost resigned

[FT86-guy]

In recent shareholders meeting Toyota president Akio Toyoda was apologizing to Toyota shareholders. He said that he was not sure if he could come back to japan in this position. He was referring to all the problems Toyota has been having lately.





TOKYO - TOYOTA president Akio Toyoda apologised to shareholders on Thursday for the Japanese automaker's mass recalls, saying he had thought he might have to resign after a US congressional hearing in February.
The world's biggest automaker has recalled around 10 million vehicles worldwide since late last year, mostly for problems with sudden acceleration, which have been blamed for more than 80 deaths in the United States.
In February Mr Toyoda made a tense appearance at a US congressional hearing into the problems as the company came under heavy criticism for its slow response.
'I was not sure if I could come back to Japan in this position' as president, Mr Toyoda said at the company's annual shareholders meeting at its Toyota City headquarters on Thursday.
He apologised for the recalls in his first annual shareholders meeting as president and the first following the crisis. 'I am sorry to our customers and shareholders for causing them to worry.'
The company paid a record 16.4-million-dollar (S$22.8 million) fine to settle claims it hid gas pedal defects blamed for more than 80 deaths in the United States, and US officials have refused to rule out the possibility of more fines. The beleaguered auto giant also faces a host of lawsuits over 'unintended acceleration' issues that prompted the majority of the recalls, which analysts warn may yet dent the future profitability of the company. -- AFP

[wtoy]

Minus the recall and death of the great test driver (my condolence) --- Toyota needs be on the ball in cranking out the next generation of great cars like the FT86 and more. Otherwise they will be more in the world of hurt in the future

[Flat4_driver]

Minus the recall and death of the great test driver (my condolence) --- Toyota needs be on the ball in cranking out the next generation of great cars like the FT86 and more. Otherwise they will be more in the world of hurt in the future

The sad part is with the death of Hiromu Naruse it will delay the FT-86 and possibly end the possibility of the MR-2 replacement.

[Victor]

I am surprised that his passing would delay the FT86...would he have been working that close to the project?

[jack_bower]

Not surprised at all. The Japanese take management to a whole new level in terms of pride and shame.