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Tokyo: Toyota has named a new CEO to "accelerate" decision-making, the Japanese auto giant said Friday as its profit and sales forecasts are made public for the current fiscal year despite the impact of US tariffs.
Current finance chief Kenta Kon will take over from chief executive Koji Sato on April 1 after three years in charge, the firm said.
"This change in roles is intended to accelerate management decision-making in response to changes in the internal and external environment," Toyota said.
The move would also help "establish a structure that will enable Toyota to fully carry out its mission of contributing to society through industry", it added.
The announcement came as the firm expects to see net profit of 3.57 trillion yen ($22.8 billion) for the year ending in March, down 25.1 percent year-on-year but up from the 2.93 trillion yen previously anticipated.
Sales are expected to climb 4.1 percent year-on-year to 50 trillion yen, a slight upwards revision.
Operating profit is forecast to hit 3.8 trillion yen, up from the previous projection of 3.4 trillion yen.
However, Toyota said the September-December quarter saw net and operating profit fall despite a rise in sales, largely because of a "tariff impact" that increased expenses
