Koji Sato will take over as Lexus CEO after the resignation of Toyota CEO Akio Toyoda.
As it struggles to adapt to the change to electric vehicles, Toyota Motor Corp.’s top executive will leave his position as the firm his grandfather founded and pass the reins over to the head of its luxury car division, the Japanese automaker announced on Thursday. Akio Toyoda will become chairman on April 1, and Koji Sato, the automaker’s 53-year-old chief branding officer and president of Lexus, Toyota’s luxury brand, will take over as CEO. Takeshi Uchiyamada, the current chairman, will step down from his position but continue to serve on the board. For investors, the question of who will succeed…