Tag Archives: executive

Bentley Boss Suddenly Steps Down

[UPDATE] Aston Martin has confirmed Adrian Hallmark will turn out to be Chief Executive Officer no later than October 1, 2024.

Adrian Hallmark was appointed chairman and CEO of Bentley in February 2018. During his tenure, gross sales of the ultra-luxury British marque rose considerably, from 9,559 items throughout his first 12 months to fifteen,174 automobiles in 2022. Even although demand dropped last year, every little thing appeared to be going high-quality on the headquarters in Crewe. However, the pinnacle honcho is abruptly stepping down.

Bentley issued a press launch as we speak, asserting Adrian Hallmark is leaving the Volkswagen Group with quick impact. His successor shall be introduced in “due course.” According to the Financial Times, the previous man accountable for Bentley is switching manufacturers whereas remaining within the UK. Hallmark will allegedly be appointed Aston Martin CEO within the following months. He would change 78-year-old Amedeo Felisa who is because of retire quickly.

Toyota Financial Services Announces Executive Changes

PLANO, Texas (Dec. 13, 2023) – Toyota Financial Services (TFS) is happy to announce the next govt adjustments, efficient January 2, 2024:

Scott Cooke, presently TFS senior vp and chief monetary officer, is promoted to Toyota Financial Services president and CEO.

As chief monetary officer, Cooke has been chargeable for the general monetary administration of Toyota Financial Services, main the features of TFS accounting, TFS finance, TFS and Toyota Motor North America (TMNA) treasury, and TFS competitiveness and mergers & acquisitions. He serves on the board of administrators of Toyota Motor Credit Corporation, the Toyota Financial Services International Corporation administration committee, and acts because the chief monetary officer for the TFS Americas Oceania Region.

“I look forward to continuing the TFS tradition of providing the best possible service to consumers and dealers,” mentioned Cooke. “Toyota Financial Services’ role has always been to deliver top-tier experiences that keep consumers loyal to our brands and their originating dealer in a way that supports manufacturer and dealer profitability. TFS also provides a stable source of funding for customers and dealers during good and challenging economic conditions. We fully intend to continue this strategy by providing innovative solutions that meet rapidly evolving customer preferences and needs.”

Cooke, who joined Toyota in 2003, has held management roles in treasury, enterprise intelligence, analytics, finance, danger, seller credit score, and technique. In addition to his vary of positions at TFS, Cooke served as company supervisor of product planning for Toyota Motor North America.

Cooke earned his Bachelor of Science diploma in Finance and MBA from Old Dominion University in Norfolk, Virginia, and is an alumnus of the Harvard Business School in Cambridge, Massachusetts.

“Scott is the ideal leader to succeed me in this role. He brings unparalleled knowledge of the TFS organization based on his decades with the company in positions both here and at Toyota Motor North America,” mentioned Mark Templin, present TFS president and CEO.

Templin continues to information a number of Toyota enterprise operations across the globe. He assumes the title of chairman of the board of Toyota Motor Credit Corporation, and retains the titles of chairman of the board of Toyota Financial Savings Bank, CEO of the TFS Americas Oceania Region, CEO of Toyota Insurance Management Solutions, and director and group chief working officer of Toyota Financial Services Corporation (TFSC) in Japan.

James Schofield, TFS group vp of finance, treasury, competitiveness, mergers and acquisitions, is promoted to TFS group vp and chief monetary officer. Schofield is well known as a considerate and efficient chief who has elevated the TFS finance, treasury, and competitiveness features to new heights. He joined the corporate in 2021, bringing a wealth of information about monetary providers finest practices gleaned from earlier roles at Lloyds Banking Group and JP Morgan Chase. Schofield is a graduate of Oxford University in Oxford, England.

About Toyota Financial Services

Toyota Financial Services (TFS) is the model for finance and associated merchandise for Toyota within the United States, providing retail auto financing and leasing by Toyota Motor Credit Corporation (TMCC) and Toyota Lease Trust. TFS additionally presents automobile and fee safety merchandise by Toyota Motor Insurance Services (TMIS). The firm providers Lexus sellers and prospects utilizing the Lexus Financial Services model.

As of March 31, 2023, TFS employed roughly 3,800 workforce members nationwide, and had belongings totaling over $137 billion. It is a part of a worldwide community of complete monetary providers supplied by Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation.

We announce materials monetary info utilizing the investor relations part of our web site (www.toyotafinancial.com) and SEC filings. We use these channels, press releases, and social media to speak about our firm, our providers and different points. While not all info we put up on social media is of a fabric nature, some info might be materials. Therefore, we encourage these eager about our firm to overview our messages on Twitter at www.twitter.com/toyotafinancial and posts on Facebook at www.facebook.com/toyotafinancial/.

Toyota Chairman Expresses Concern About Potential Return to Mediocrity

In January 2023, Toyota made significant changes to its leadership structure. Akio Toyoda stepped down from his role as CEO to take on the position of chairman, and now we’re getting insights into the challenges and apprehensions he faced during his tenure. At the Japan Mobility Show, Toyoda fielded questions from dealer representatives, journalists, and other guests, offering candid responses.

Toyoda revealed the difficulty he encountered in transforming the company’s approach to new product development, a process he initiated 14 years ago when Lexus unveiled the then-new GS. The prevailing feedback at the time was that the brand was lackluster. Additionally, during tests at the Nurburgring, European automakers reviewing Toyota’s projects remarked, “Toyota can’t do it.”

This was just one aspect of the bigger picture. With a firm belief that the company needed to evolve and create more captivating cars, Toyoda collaborated with the company’s executives and engineers, urging them to be more open to his concerns. At the same time, Toyoda personally tested most of the brand’s new vehicles, providing direct feedback to the R&D department.

Toyota has now undergone a profound transformation since Toyoda assumed the role of CEO, offering exciting products like the Supra, Yaris GR, and the new Crown range. However, this change has also sparked new apprehensions. The chairman is concerned that the company could regress to its former ways from 14 years ago.

A GRAND SUCCESSION: FROM CLAUDE JOHNSON TO TORSTEN MÜLLER-ÖTVÖS

  • Rolls-Royce Motor Cars reflects on the lasting influence of the company’s first chief executive, Claude Goodman Johnson (24 October 1864 – 11 April 1926)
  • A gifted publicist and marketer who became known as ‘the hyphen in Rolls-Royce’
  • Managed the company from 1906 until his death 20 years later
  • Retiring in November 2023 after almost 14 years, Torsten Müller-Ötvös is the longest-serving CEO of the modern era, and second only to Johnson in time at the head of the marque
  • Continued a long line of influential Rolls-Royce CEOs who shaped both the company and the wider automotive and luxury industries during their tenure

 
“Though perhaps less familiar in the public mind, Claude Johnson is probably the most important and influential figure in the annals of Rolls-Royce apart from the founders themselves. As we mark the retirement of Torsten Müller-Ötvös after almost 14 years as our Chief Executive Officer, this seemed the ideal moment to shine a light on the only person in the marque’s history to have held the top job for longer. A larger-than-life character, Johnson was evidently a force to be reckoned with; it was his energy, enthusiasm, vision and dedication that made Rolls-Royce a household name around the world. Even today, he’s still known as ‘the hyphen in Rolls-Royce’ – a fitting tribute to a truly remarkable man.”
Andrew Ball, Head of Corporate Relations and Heritage, Rolls-Royce Motor Cars

A BIG PERSONALITY

When the Hon Charles Stewart Rolls first met Henry Royce in Manchester on 4 May 1904, the first person he shared the news with was his business partner, Claude Johnson.

Johnson, a large-framed, extroverted man 13 years older than Rolls, initially ran scientific and trade exhibitions in his career, then served as the first Secretary of the Automobile Club of Great Britain and Ireland for six years before joining C S Rolls & Co in 1903.

At the fledgling Rolls-Royce company, Johnson brought in much-needed commercial acumen and financial backing, leveraging his talent for marketing and organization.

MAKING HIS MARK

Johnson, in 1906, became the first Commercial Managing Director of Rolls-Royce Limited, excelling in sales and marketing. He convinced Royce to focus on a single model, the 40/50 H.P., which he named the Silver Ghost. He also persuaded Royce to supply every car with an official mascot, leading to the enduring symbol, the Spirit of Ecstasy.


A FRIEND INDEED

During Royce’s health struggles in 1911, Johnson took him on a rejuvenating road trip through Europe to Egypt, and bought land in the South of France for Royce’s new home in Le Canadel, near Nice.


‘THE HYPHEN IN ROLLS-ROYCE’

Johnson continued leading Rolls-Royce until his death in 1926 at 61, marking him as the company’s longest-serving chief executive. His influence on the brand was far-reaching, profound, and lasting, earning him the moniker ‘the hyphen in Rolls-Royce’.


WORTHY SUCCESSORS

The executive title at Rolls-Royce changed over time, following Johnson’s role as Commercial Managing Director. Notable successors include Ernest Hives and Dr Frederick Llewellyn Smith.


DRIVEN TO SUCCEED

Ernest Hives, who started as Charles Rolls’ chauffeur, played a pivotal role in the development of Rolls-Royce’s aero engines and automotive products, eventually becoming Managing Director and later Chairman until his retirement in 1957.

A COMPLETE CHANGE

Dr Frederick Llewellyn Smith led the transformation of Rolls-Royce’s Crewe factory from producing wartime Merlin aero engines to civilian car production. His visionary leadership resulted in the production of innovative models like the Silver Dawn, Silver Cloud, and Silver Shadow, before retiring in 1967 as Chairman.

INTO THE MODERN ERA

Torsten Müller-Ötvös, as CEO since 2010, has overseen the complete transformation of Rolls-Royce Motor Cars during his almost 14-year tenure. His leadership introduced various new models, an expansion in Bespoke offerings, and the launch of the first all-electric Rolls-Royce, Spectre in 2022. His successor, starting from November 30, 2023, is Chris Brownridge, former CEO of BMW UK.

Bill Ford States that the UAW Strike in Kentucky Harms Thousands of Americans

Bill Ford, the Executive Chair of Ford Motor Company, addressed the United Auto Workers (UAW) union at the Rouge Visitor Center in Dearborn, Michigan. He called on his UAW colleagues to accept the automaker’s deal and put an end to the ongoing dispute. Ford’s remarks were in response to UAW President Shawn Fain’s complaints about Ford’s proposal.

In his speech, Ford emphasized the negative impact of the UAW expanding the strike to the Kentucky Truck Plant. He stated that shutting down the plant immediately harms thousands of workers, suppliers, dealers, and the communities relying on those local economies.

Ford highlighted that the company has offered a contract that goes above and beyond the requirements of the previous UAW agreement. He claimed that the proposed deal would make Ford’s manufacturing workers the highest-paid in the world.

On the other hand, UAW President Fain stated that Ford had presented the union with the same offer as two weeks prior, which the UAW found unacceptable and rejected. This rejection led to the expansion of the strike to the Kentucky Truck Plant.

The Kentucky plant is Ford’s largest factory, generating $25 million in revenue annually. It produces the F-Series Super Duty, Expedition, and Lincoln Navigator and employs 8,700 UAW members.

During his speech, Fain criticized Ford’s CEO, Jim Farley, and urged him to use the company’s resources to meet the union’s demands. Fain pointed out the compensation gap between a top executive like Farley and workers.

For reference, Bill Ford’s annual income was $17.3 million in 2022 and $18.7 million in 2021, according to the Detroit Free Press.

Fain also mentioned that the union plans to be more aggressive in the future by providing short notice before expanding the strike to additional factories.

Rolls-Royce CEO Steps Down, Chris Brownridge Takes Over

Rolls-Royce, the luxury car manufacturer, has announced a significant change in leadership. The current Chief Executive Officer, Torsten Müller-Ötvös, will retire from his position on November 30, 2023. His successor will be Chris Brownridge, who is currently the CEO of BMW in the UK.

Brownridge brings with him almost thirty years of experience at BMW. According to an official press release, he has a strong background in sales and marketing. He joined BMW as a graduate in 1995 and has since held various roles within the company. These include serving as the sales director of BMW UK and the regional director of Mini for the UK and Ireland.

2023 Toyota Vellfire Launched In India, Prices Start From Rs 1.20 Crore

The new Vellfire is sold in two broad trims, Hi and VIP Executive Lounge, which come in 7-seater and 4-seater layouts, respectively

2023 Toyota Vellfire

  • Toyota has priced the new Vellfire from Rs 1.20 crore to Rs 1.30 crore (ex-showroom pan-India).

  • Bookings for the fourth-gen MPV are now open with deliveries to start in November.

  • Exterior highlights include sleek LED headlights and DRLs, 19-inch black alloy wheels and connected LED taillights.

  • Sports a minimalist and cleaner cabin layout dominated by a 14-inch touchscreen.

  • Has Ottoman seats in the 4-seater version with massage function and multiple adjustments.

  • Other features include 14-colour ambient lighting, dual-panel sunroof and six airbags.

  • Powered by a 2.5-litre petrol-hybrid powertrain mated to an e-CVT, claimed to return 19.28kmpl.

The fourth-gen Toyota Vellfire has been launched in India. Bookings for the new luxury MPV are now open while it is being offered in two broad variants: Hi and VIP Executive Lounge. Prices for the new Vellfire range from Rs 1.20 crore to Rs 1.30 crore (rounded-off, ex-showroom pan-India). The new and improved MPV is priced at a premium of almost Rs 23 lakh over the previous version.

Bolder Than Before

2023 Toyota Vellfire

Its humongous grille with dark chrome slats, looks a lot similar to the one on the latest Toyota Land Cruiser SUV. The new Vellfire gets sleeker 3-piece LED headlights and DRLs, while sporting a chrome lip in the bumper and big air dams comprising the fog lamps.

2023 Toyota Vellfire rear

The Vellfire’s profile retains the MPV-like appeal while now featuring a Z-shaped element on the B-pillar, acting as a kink in the windowline. It is also from this angle that you notice its chunky, black 19-inch alloy wheels and the expansive length and wheelbase of the MPV, measuring 5.01m and 3m, respectively. At the back, the new Vellfire comes with wing-shaped wraparound and connected LED taillights, a huge, upright tailgate and the “Vellfire” insignia.

It can be picked from three exterior colour options: Black, Precious Metal, and Platinum White Pearl.

Also Read: 5 Things You Should Know About The Newly Revealed Toyota Land Cruiser Prado

A More Premium Cabin Experience

2023 Toyota Vellfire cabin

Toyota has even upped the premiumness of the Vellfire’s cabin by giving it a minimalist and cleaner layout. The new version of the MPV also boasts of a fresh 3-spoke steering wheel with copper accents. Its cabin can be had in three themes: Sunset Brown, Beige and Black.

2023 Toyota Vellfire seats

The most significant detail of the new Vellfire, though, is its second row of seats if you choose the top-spec four-seat variant called the VIP Executive Lounge. It offers Ottoman seats in the middle row and thanks to multiple ways of adjustment and massage function, the Vellfire’s second row seats ensure you will be cocooned on all your highway journeys. In case you feel bored here, Toyota has even put two 14-inch rear screens (one for each passenger) to keep you engaged on the go.

Also Read: Toyota Innova Crysta Can Now Be Customised As An Ambulance

Features In Plenty

2023 Toyota Vellfire touchscreen and digital driver display

The attention-grabber of the new-generation cabin is the 14-inch touchscreen infotainment system, which is the biggest central display on a Toyota car in India. Other equipment on offer include a fully digital driver display, a dual-panel sunroof, wireless phone charging, and 60+ connected car tech features. It also gets an 8-way power-adjustable driver seat with memory function, 14-colour ambient lighting and a 15-speaker JBL sound system.

Its safety net comprises six airbags, adaptive cruise control, lane-keep assist, vehicle stability control, a 360-degree camera, and all four disc brakes.

Petrol-hybrid Power For The Win

2023 Toyota Vellfire petrol-hybrid powertrain

For India, Toyota has equipped the fourth-gen Vellfire with a 2.5-litre petrol-hybrid powertrain making 193PS and 240Nm, paired with an e-CVT. Thanks to its strong-hybrid setup, it is claimed to return an average fuel economy of 19.28kmpl.

Who Does It Compete With?

Although the new Vellfire doesn’t have any direct rivals for now, it will take on the upcoming 2024 Mercedes-Benz V-Class in India. Deliveries for the new Toyota Vellfire will commence only from November 2023.

Read More on : Vellfire Automatic

Toyota Connected North America Announces Updates to Executive Leadership Team

The company strengthens its focus on software and AI development to support Toyota’s electrified mobility goals

PLANO, Texas (August 2, 2023) – Toyota Connected North America (TCNA) has announced changes to its executive leadership team in order to solidify its position as a hub for data and software innovation within Toyota. TCNA is renowned for its development and operation of Toyota Motor North America’s (TMNA) in-house telematics service provider, collaborating with TMNA and other Toyota companies worldwide to deliver data-driven services that enhance the driving experience for millions of customers of Toyota and Lexus vehicles.

As Toyota continues to transform its vehicles to be more connected and electrified, TCNA aims to offer services that align with Toyota’s global objective of becoming the preferred choice for consumers in the electrified mobility sector.

The following changes are effective immediately:

Christopher Yang has been promoted to the position of President and Chief Executive Officer (CEO) of TCNA. He will report to Keiji Yamamoto, the President of Toyota Connected Corporation. Yang previously served as TCNA’s Executive Vice President and Chief Operating Officer (COO). In addition to his new role, Yang will continue in his current responsibilities as the Group Vice President of Business Development and Deputy General Counsel of Toyota Legal One at TMNA.

James George has been appointed as the new Senior Vice President and COO of TCNA, taking over Yang’s previous position. George will also join TCNA’s board of directors and will report to Christopher Yang. He will continue his existing responsibilities as the General Manager of EV Charging Solutions within the Business Development division at TMNA.

Kohta Arai, who currently leads global operations at TCNA, has been appointed as the Chief Liaison Officer of TCNA. Arai will report to Chris Yang and will be responsible for fostering collaboration between TCNA and other Toyota entities worldwide. Arai will continue in his role as the Head of Global Operations in Business Development at TMNA.

Nilay Davé will retain his position as General Counsel and will continue to oversee the legal teams at TCNA. Davé has also been appointed as the Chief Compliance Officer. In addition, he will continue his role as the leader of TMNA Legal’s technology transaction team.

The former President and CEO of TCNA, Steve Basra, left the company on June 30th, 2023.

Porsche US Ex-CEO Might Join Rivian, Reports Say

According to sources familiar with the matter, Kjell Gruner, the former CEO of Porsche Cars North America, is expected to join electric vehicle startup Rivian in an undisclosed role, as reported by Automotive News Europe.

Last week, Gruner left Porsche USA “at his own request” after holding the position for less than three years. During his tenure, he successfully navigated the German sports car manufacturer’s American business through the pandemic and positioned the brand for a record-breaking year in terms of sales. Dealers are projected to sell 80,000 units next year, representing a nearly 15 percent increase compared to 2022.

Prior to his role as CEO in the United States, Gruner served as the vice president of marketing for the parent company Porsche AG starting in 2010. He also held the position of director of strategy at Mercedes-Benz Cars before that.

McLaren Artura Deliveries Delayed to Improve Quality

The McLaren Artura has faced some initial problems, but the Chief Executive Officer, Michael Leiters, has pledged to address them. In an interview last December, Leiters acknowledged that the car was not fully developed, leading to a halt in deliveries and a temporary stop in production to address quality issues.

Unfortunately, the Artura’s past issues continue to impact its delivery schedule. Automotive News obtained a memo sent by McLaren to dealers in the United States, informing them of delayed deliveries to customers. On average, buyers can expect a four-month delay, with some cars originally scheduled for May now pushed back to September. McLaren spokesperson Roger Ormisher confirmed this information.