Toyota Motor said it has appointed its current chief financial officer, Kenta Kon, as president and chief executive officer, effective April 1, 2026, as part of a broader management reshuffle at the world’s largest carmaker by sales.
Kon, 57, will succeed Koji Sato, who will move into the role of vice-chairman and chief industrial officer while remaining on the board of directors. Toyota said Sato will focus on industry-wide initiatives and competitiveness, while Kon will assume responsibility for internal corporate leadership and execution.
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Kon has spent more than three decades at Toyota, joining the group in 1991 and building his career primarily in finance. He was appointed executive vice president for research and development in 2019, became chief financial officer a year later and subsequently joined the board. He later led software-focused subsidiary Woven by Toyota before returning to the CFO role in 2025.
Toyota did not provide detailed reasons for Sato’s transition just three years after he took over as CEO from Akio Toyoda. However, the company said the leadership changes reflect a need to accelerate practical initiatives, deepen collaboration across the automotive industry and strengthen the global competitiveness of Japan’s car sector. In his new position, Sato will also continue to play a prominent role as chairman of the Japan Automobile Manufacturers Association.
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During Sato’s tenure as chief executive, Toyota’s financial performance has improved markedly. The company’s share price more than doubled over the period, and Toyota has continued to consolidate its position as the world’s leading automaker.
Alongside the leadership announcement, Toyota raised its profit forecast for the fiscal year ending March 31, 2026. The company now expects operating profit of 3.57 trillion yen ($19.3 billion), up from a previous estimate of 2.93 trillion yen. It is also targeting global vehicle sales of 11.3 million units across all brands, representing a 2.6% increase from the 11.01 million vehicles sold in the previous fiscal year.
The appointment of Kon signals a renewed emphasis on financial discipline, technology investment and long-term industrial strategy as Toyota navigates intensifying competition, electrification and geopolitical uncertainty.