Toronto, Ontario – Toyota has unveiled its 2020 Global Vision mission statement, which includes structural changes that will strengthen the company’s business in North America.
Toyota Motor Corporation (TMC) president Akio Toyoda outlined the program in Japan. Toyota-related operations around the world will define their own missions and concrete steps to fulfill the vision.
“Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people,” Toyoda said. “Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet challenging goals by engaging the talent and passion of people, who believe there is always a better way.”
Changes outlined in the program include:
– Reducing the number of members on the TMC board of directors from 27 to 11;
– Streamlining the current three-tier executive decision-making system and reducing the total number of officers from 77 to 60;
– Changing structures to allow local decision-making by overseas affiliates, with regional chief officers assigned locally, their number increased from 13 to 15, and their divisions’ functions, presently performed in Japan, transferred overseas in stages;
– Establishing outside regional advisers with academic, government and corporate backgrounds to provide insights.
Toyoda said that regional operations will have a “bigger say than ever in formulating policy,” and that TMC will “provide overall direction and identify what we need to do. We will invest our regional operations with the authority and the responsibility for determining how to proceed.” Ultimately, he said that TMC’s plan is for North America to become a global centre responsible for R&D and production as well as for exports.