Outgoing Chair Akio's Farewell - Arigato Message Unveiled
Toyota's General Shareholders' Meeting: Akio Toyoda's Legacy of Innovation and Sustainability
Toyota's General Shareholders' Meeting, held on June 14, 2024, in Toyota City, Aichi, marked a significant milestone in the company's history. The meeting, attended by 3,774 shareholders, was a testament to the 14-year tenure of Akio Toyoda as Chairman.
In his final message, Akio Toyoda expressed his role during his tenure as protecting Toyota's future and the company's core values, known as genba. He emphasized that he had focused on safeguarding Toyota’s unique corporate culture and preparing the company for the future, while driving innovation and business transformation.
Akio Toyoda's decisions, which often went against the currents of time and Toyota's conservative mainstream, steered the company through various crises. His dedication to the frontlines, rather than the president's office, embodied Toyota's unique values.
Under his leadership, Toyota became a company that could look to the future and take on new challenges. He emphasized preserving the “Toyota DNA” passed down from his great-grandfather Sakichi Toyoda, maintaining the company’s foundational values and startup spirit even as it innovated.
Toyoda publicly shared clear visions on group-wide goals, especially those addressing environmental challenges such as carbon neutrality and decarbonization, including supporting hydrogen technologies for vehicles and industrial use. He strongly pushed new business creation and diversification, supporting teams within the company to develop and launch innovative projects and ventures.
Akio Toyoda oversaw the privatization of Toyota Industries and the establishment of a new holding company aimed at returning to the company’s roots and setting a firm foundation for sustainable growth and innovation. He managed critical global issues, including withdrawing production from Russia and advancing flood recovery efforts in South Africa.
During the proceedings, the first shareholder proposal in 18 years, seeking a climate-related amendment to the company's Articles of Incorporation, was rejected. However, silent shareholders continued to offer encouragement to Akio through the general meetings.
Akio Toyoda was greeted with tremendous applause during the meeting, a moment of mutual appreciation. He expressed pride in the fact that everyone present was a carmaker. He also expressed gratitude during the meeting for his 14-year tenure as president.
President Koji Sato called for all Toyota employees and partners to work together to change the future of cars. He expressed his belief that the 370,000 global members of Toyota have shown him that "you can change yourself, and the future."
A growing number of people were inspired by Akio's example and drawn to his vision, leading to a solid footing for Toyota's business. Akio Toyoda's goal was to ensure the next generation could focus on the future, rather than the past.
Three resolutions were approved, including the election of 10 board members, Chairman Toyoda and President Koji Sato among them. The shareholders' meeting, which was once Akio Toyoda's least favorite day of the year, had become a chance for self-reflection.
Akio Toyoda wants to protect Japanese monozukuri above all, a sentiment he expressed during the General Shareholders' Meeting. His legacy at Toyota will undoubtedly be one of a deep respect for the company's heritage, coupled with a commitment to forward-looking innovation and sustainability.
References:
[1] Toyota Global. (2024). Akio Toyoda's Legacy: A Decade of Transformation. Retrieved from https://global.toyota/en/newsroom/corporate/35686681.html
[2] Toyota Global. (2024). Akio Toyoda's Vision: Steering Toyota Towards a Sustainable Future. Retrieved from https://global.toyota/en/newsroom/corporate/35686682.html
- Akio Toyoda's leadership at Toyota, spanning over a decade, was marked by his focus on safeguarding the company's unique corporate culture, driving innovation, and fostering sustainable business growth, all while preserving Toyota's heritage.
- Toyota, under Akio Toyoda's leadership, embarked on a path towards a sustainable future, setting clear visions for group-wide goals, including environmental challenges, new business creation, and diversification, all aimed at ensuring the next generation could focus on the future, rather than the past.
