Toyota Industries Chairman Tetsuo Toyoda and Vice Chairman Akira Onishi to retire. Toyota Motor Corporation's Executive Fellow Shigeki Terashi will be appointed as their successor chairman.
Toyota Industries was discovered to have fraudulently obtained national certification for its forklifts, construction machinery, and car engines. The company plans to formally decide on these personnel changes at the general meeting of shareholders scheduled for June. Toyota Industries stated, ``This is not a resignation or punishment in response to a series of fraud issues''