NEW YORK, May 8, 2006 (PRIMEZONE) -- Toyota Motor North America, Inc. (TMA), the North American subsidiary of Toyota Motor Corporation (TMC), today announced the appointment of a new leadership team. Yuki Funo, currently chairman and CEO of Toyota Motor Sales, U.S.A., Inc. (TMS), has been named Chairman and CEO of TMA, and Jim Press, currently President and COO of TMS, has been appointed President of TMA, effective immediately. Mr. Press is the first American to serve as President of TMA.
The company also announced several steps to strengthen its anti-harassment and discrimination policies and practices, including:
-- The formation of a special task force, headed by the 23rd
U.S. Secretary of Labor Alexis Herman, to undertake a thorough
review to ensure that Toyota's policies, procedures and actions
regarding harassment and discrimination are in keeping with
best practices.
-- Immediate actions to enhance training for its senior executives
and to strengthen and clarify its procedures for responding
to allegations.
Katsuaki Watanabe, President of TMC, said, "Yuki Funo and Jim Press are a strong team to lead TMA. They are familiar with our company globally, have worked together effectively at TMS, and have wide knowledge of the vital North American automotive market. Under our new North America leadership team, we will continue to build on Toyota's reputation for excellence in products and performance, and for always striving to achieve the highest standards of business conduct and good corporate citizenship."
Mr. Watanabe added, "At Toyota, we have zero tolerance for sexual harassment or discrimination of any kind. We are committed to making all necessary and appropriate improvements in our policies and practices to fulfill our core principles of respect for people and continuous improvement."
New Leadership Team
To further strengthen coordination of all of Toyota's North American operations, Mr. Funo will continue to serve as Chairman and CEO of TMS and as a member of that company's board of directors and chairman of its executive committee, in addition to his new role at TMA. Mr. Funo will also remain a senior managing director of TMC.
Mr. Funo, 59, joined TMC in 1970, and his career has centered on international operations. He has held a number of other positions worldwide, including serving as project general manager for the Asia, Oceania and Middle East planning division of TMC, and holds an MBA from Columbia University.
Mr. Press, 59, joined TMS in 1970, and has worked in a variety of positions including advertising, customer services, marketing, product planning, market representation and distribution. He has been President and Chief Operating Officer of TMS since June 2005 and also serves in a global advisory capacity as managing officer of TMC in Japan. His earlier experience includes managerial assignments in Toyota's San Francisco and Cincinnati regions and with Southeast Toyota Distributors, LLC. He currently serves as Chairman of the Alliance of Automobile Manufacturers.
Jim Lentz, 50, currently Group Vice President of TMS, has been named Executive Vice President of TMS and will assume Mr. Press's operational responsibilities. The position of President of TMS will not be filled at this time. Mr. Press will assist in the transition at TMS over the next several weeks.
Hideaki Otaka, 65, who was scheduled to leave his post as TMA President at the end of June, has voluntarily accelerated his departure to today. Mr. Otaka said, "While I expect to be fully vindicated in the recently filed litigation against Toyota and me, I have regretfully come to the conclusion that my continued service as President would serve as a distraction and ultimately not be in the best interests of the Company. I am proud to have been associated with Toyota for more than 40 years and to have played a role in increasing Toyota's philanthropic contributions to communities across America."
Special Task Force to Review Anti-Harassment and Discrimination Policies
The task force headed by Ms. Herman, who also chairs the Diversity Advisory Board of Toyota's U.S. affiliates, the only external diversity board in the automotive industry, will report its findings to the Presidents of Toyota's U.S. affiliates. Other independent members of the panel, each of whom also serves on the Diversity Advisory Board, will be:
-- Susan Molinari, former Congresswoman
-- Judge Nathaniel R. Jones, a retired judge in the United States
Court of Appeals for the Sixth Circuit in Cincinnati
-- Sara Martinez Tucker, President and CEO of the Hispanic
Scholarship Fund
In addition, the panel will include three senior Toyota executives:
-- Dian Ogilvie, Senior Vice President, General Counsel and
Chief Environmental Officer, TMS
-- Patricia Salas Pineda, Group Vice President, Corporate
Communications and General Counsel, TMA
-- Pete Gritton, Vice President, Human Resources, Toyota Motor
Engineering & Manufacturing North America, Inc. (TEMA)
Additional Actions by Toyota Affiliates in the U.S.
Toyota affiliates in the U.S. also announced the following new actions:
-- As a supplement to existing training, all executives will
undergo a special training program to enable them to better
recognize, prevent and handle any instances of inappropriate
behavior.
-- Current policy requires that any allegation of harassment or
misconduct be immediately investigated and reported to the
executive's superior. Each affiliate has clarified its
procedures to provide that if the Chairman, CEO or President
is involved, a report will be made directly to that executive's
Board of Directors.
Ms. Herman said, "As Chair of the Toyota Diversity Advisory Board since 2002, I've seen first-hand the company's progress in the area of diversity and commitment to treating employees with dignity and respect. My fellow task force members and I will conduct a thorough review to ensure that the company's policies, procedures and actions represent best practices."
Toyota (NYSE:TM) established operations in North America in 1957 and will operate 15 manufacturing plants in North America by 2008. There are more than 1,700 Toyota, Lexus and Scion dealerships in North America which sell more than 2.5 million vehicles a year. Toyota directly employs over 38,000 in North America and its investment here is currently valued at more than $16.8 billion, including sales and manufacturing operations, research and development, financial services and design. Toyota's annual purchasing of parts, materials, goods and services from North American suppliers totals more than $26 billion. According to a 2005 Center for Automotive Research study, Toyota, along with its dealers and suppliers, has generated nearly 400,000 U.S. jobs, including jobs created through spending by direct, dealer and suppliers employees.