Toyo Changes Official Name and Makes Changes in Senior Management

Toyo has changed the official name of the company and made several changes in senior management. The tire manufacturer made many organizational, structural and personnel changes.

From January 1, 2019 onwards, the company will be known as the Toyo Tire Corporation instead of Toyo Tire & Rubber Co., Ltd. According to the company, the name change has been made with the goal of strengthening governance and achieving further growth. The plant for this will be implemented under a new management structure. These organizational changes also will also be implemented with effect from 1 January, 2019. The changes in the organizational structure will be implemented with the goal of strengthening the corporate function and promoting the company’s capital and business alliance with Mitsubishi Corporation, which was finalized recently.

The changes that will be implemented include moving the function of the Business Administration Department, which now operates under the Business Strategy Division of the Business Headquarters to the Accounting & Finance Department where it will operate under the Administration Division. The Business Strategy Division will be dissolved and the SCM Division will be set up. The Global Supply Development Division, which operates under the Fundamental Production Engineering Headquarters will now work under the business headquarters.

As many as 13 changes have been made to the corporate structure. When it comes to the European tire markets, Toyo Tire Europe GmbH president Kenta Kuribayashi has been appointed as corporate officer. Besides being elevated to the role of corporate officer, Kenta Kuribayashi will continue to be the president of Toyo Tire Europe GmbH.