Toyo changes official name, reshuffles executives

Toyo has made a number of organizational, structural and personnel changes, including an executive reshuffle.

First, the company will change its corporate trade name from Toyo Tire & Rubber Co., Ltd. to Toyo Tire Corporation, effective on 1 January 2019. According to the company, the corporate name change will leverage “getting our business operations rolling with the aim of strengthening governance and achieving further growth, which we will endeavour to implement under a new management structure.”

The corporate name change will be accompanied by organizational structure changes, also effective on 1 January 2019. Specifically, the following organizational structure changes will be implemented to “strengthen the corporate function and promote the capital and business alliance with Mitsubishi Corporation.”

Changes include: Moving the function of the Business Administration Department, operating under the Business Strategy Division of the Business Headquarters to the Accounting & Finance Department operating under the Administration Division; Dissolving the Business Strategy Division; Establishing the SCM Division; transferring the Global Supply Development Division, operating under the Fundamental Production Engineering Headquarters the business headquarters.

A total of 13 changes have been made to the corporate structure. As far as European tyre markets are concerned, the appointment of Toyo Tire Europe GmbH
president Kenta Kuribayashi as corporate officer is arguably the most significant. In addition to his promotion to the role of corporate officer, Kenta Kuribayashi
will remain as Toyo Tire Europe GmbH president.