Toyota announces leadership reshuffle

Toyota set up a new leadership team on Thursday in what the Japanese automaker said was a move to stay abreast of social changes like electrification and becoming a wider “mobility company.

”Chief Executive and President Akio Toyoda, the grandson of the company's founder, will become chairman.Toyoda took over as CEO of Toyota in 2009.Chief branding officer Koji Sato, who has been managing the Lexus luxury division and Toyota motor racing, was tapped to become the new president.