A recent encounter between Akio Toyoda, the president of Toyota, and Ulrich Bez, the CEO of Aston Martin, helped illustrate the remarkable transition of the Toyota brand. The two participated in an endurance race in Germany as they received that nation's accolades for helping to promote auto racing. To many, the race was symbolic of the evolution Toyoda hopes to oversee while presiding over one of the world's largest automakers.
A Giant Transforms
Now that Toyota has recovered from embarrassing recalls, the financial crisis and natural disasters; it now seeks to and recover much of the prestige the company recently lost. Once known for its durable, economical cars, Toyota has fallen victim to its bland plain designs and stagnant technolgies as Hyundai Motor Company of Korea assumes a leadership role in the industry.
The rise of Hyundai has been so dramatic that competitors like Volkswagen and Nissan now target that company rather than Toyota. Although Toyoda used to call his cars "beasts" because of their rugged construction and value price. Now willing to cede that title, Toyoda insists that Toyota automobiles will soon resume a leadership role in the global auto market by producing beautiful, high performance cars.
An Enthusiastic Leader
Toyoda has worked hard to stir excitement inside his company to build better, more exhilarating motor vehicles. On one occasion, Toyoda invited newly hired workers to the Toyota testing facility. There he was, driving the Lexus LFA on the track, providing background sounds to reinforce the aura of power, performance and beauty he wants to build into Toyota cars.
As an auto enthusiast, Toyoda will sometimes drive other vehicles ranging from 30-year-old pickup trucks to new Camrys as he makes appearances at Toyota facilities around the globe. He seems intent to spread his zeal for the automobile throughout his company. With congressional hearings and an appearance on Larry King's television show behind him, he's looking forward to the new challenges that lie ahead.
A Different Kind of Toyota Leader
Unlike some corporate leaders, Toyoda embraces change. In fact, he reportedly becomes frustrated with people in his company who do not want things to change. Those characteristics have won him both admirers and detractors. As part of his response to the recall fiasco, Toyoda pruned his leadership team from 27 people to 11. He authorized various regional Toyota offices to make more decisions on their own in hope of improving the company's ability to respond to problems. Although his vision and his willingness to act inspires many, others wonder if Toyoda shares Steve Jobs' style of micromanagement rather than Toyota's traditional collaborative leadership.
Toyoda has been known to make many fast decisions. For example, when he decided to join forces with American startup Tesla Motors after only a few months exposure to that company, Toyoda hoped that Tesla's innovation and the quick product development style would rub off on Toyota engineers. By many accounts, they have rubbed off.
New Projects on the Way
Of all his projects, Toyoda has assumed the most direct ties to the overhaul of Toyota's Lexus brand. He has personally participated in vehicle testing and sends engineers back to the drawing boards if he doesn't like what he sees.
The innovation, style and performance Toyoda demands are already in the pipeline. About 20 all-new Toyota vehicles are due to hit markets in the next few years. If Toyoda's dream for his company comes true, these cars will provide the impetus to restore Toyota to prominence.
Vincent works in the research and development area for zAutos. For more about zAutos see:
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