September 6, 2007 - New York - TOYOTA MOTOR NORTH AMERICA (TMA) announced today that Jim Press, TMA president and a Toyota Motor Corporation (TMC) senior managing director, will resign from both positions effective September 14, 2007. Shigeru Hayakawa, currently TMA's executive vice president, will be named president of TMA and will continue to serve as a TMC managing officer.
Press joined Toyota Motor Sales, U.S.A., Inc. in 1970 and has been a key driving force behind Toyota's U.S. operations for 37 years. Regarding his departure from Toyota, Press said, "Toyota has been the centerpiece of my life. This was the most difficult decision I have made, but I am truly looking forward to an exciting new chapter in my career."
TMC President Katsuaki Watanabe commented, "Jim has played a significant role in strengthening Toyota's presence in the U.S. I was looking forward to him playing a bigger role as a member of our management team, so I am sorry to see him leave.
I would like to express my heartfelt gratitude for all he has done for Toyota."
Hayakawa joined Toyota in 1977. He started in the overseas department of the Public Affairs Division, where his responsibilities included international media relations, government affairs, investor relations and corporate advertising. In 1994 he began a six year assignment in New York at TMA. He became head of the International Communications Department in 2002 and general manager of the Public Affairs Division in 2005. He was named managing officer of TMC and executive vice president of TMA in 2007.
Toyota (NYSE:TM) established operations in North America in 1957 and will operate 15 manufacturing plants in North America by 2010. There are more than 1,700 Toyota, Lexus and Scion dealerships in North America which sold more than 2.8 million vehicles in 2006. Toyota directly employs over 41,000 in North America and its investment here is currently valued at more than $18.6 billion, including sales and manufacturing operations, research and development, financial services and design. Toyota's annual purchasing of parts, materials, goods and services from North American suppliers totals more than $28.5 billion. According to a 2005 Center for Automotive Research study, Toyota, along with its dealers and suppliers, has generated nearly 400,000 U.S. jobs, including jobs created through spending by direct, dealer and suppliers employees. For more information about Toyota, visit www.toyota.com.
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