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U.S. markets recover from steep losses
TOKYO, June 24 (UPI) -- The chairman of Toyota Motor Company in Japan has resigned the post after more than a decade in leadership but will stay with the automaker.
Hiroshi Okuda has been chairman and president of Toyota over the past 11 years and was replaced Friday by Fujio Cho, the vice chairman, Kyodo News reports.
Okuda has been heavily involved in linking the business community with Japanese national politics and policy making.
He also served four years on the powerful Japan Business Federation.
Okuda will stay on Toyota's board and be a senior adviser to the company.
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