Akio Toyoda Emotionally Reflects on His 11-Year Tenure, Filled with Sorrow and Appreciation
In a poignant moment at the 116th Toyota General Shareholder Meeting in 2020, Akio Toyoda, the company's president, delivered an emotional speech. The speech, primarily focused on recent scandals involving Toyota group companies, marked a moment of accountability and commitment to remedy the issues.
Apology and Accountability
Addressing the gravity of the scandals, Akio Toyoda issued a sincere apology as chairman. He acknowledged the impact these issues had on the company's reputation and expressed a sense of accountability to rectify them.
Restoring Trust
Recognising the need for restoration of trust among customers and shareholders, Akio Toyoda emphasised the importance of transparency and improvement in corporate conduct. He called for continuous efforts to ensure the integrity of Toyota's products and services and uphold the company’s longstanding values.
Gratitude and Acknowledgement
Akio Toyoda also expressed his gratitude to the employees and their families who have worked tirelessly with him during his term as president. He thanked all partners for their hard work in enabling Toyota's success.
Management Decisions and Personal Struggles
In his speech, Akio Toyoda shared his feelings about being president, expressing that it is a lonely task. He mentioned that he has frequently gone against trends and the conservative mainstream in his management decisions. Akio also shared a personal story about being moved to tears during a Board of Directors' Meeting.
Overcoming Challenges
Despite the challenges, Akio Toyoda believes that Toyota has grown stronger in response to the COVID-19 crisis. He highlighted the company's efforts to prioritize human life and safety, with worksites producing face shields during the crisis.
Looking Forward
Akio Toyoda expressed his hope that Toyota shareholders see a company they can depend upon more than before. He mentioned that Toyota is now at a starting point to become a company that can be trusted by people around the world.
Self-Evaluation and Future Goals
Akio Toyoda believes that the shareholder meeting is a valuable opportunity for self-evaluation. In his first shareholder meeting in 2010, he faced difficult questions from shareholders who viewed him as a spoiled member of the founding family with no track record of achievements. However, he has since worked diligently to prove them wrong.
In 2013, Akio Toyoda was finally able to greet the company's shareholders having made a profit-non-consolidated operating income for FY2013 was 242.1 billion yen. This success marked a significant milestone in his tenure as president.
Akio Toyoda's emotional speech at the 116th Ordinary General Shareholder Meeting was a testament to his commitment to Toyota's success and his willingness to face challenges head-on. His tears during the speech underscored the deep emotions and feelings he has experienced over the past eleven years.
Akio Toyoda acknowledged the need for improved leadership in finance and business to restore trust among customers and shareholders, emphasizing the importance of transparency and ethical business practices.
In his speech, Akio Toyoda expressed his commitment to uphold Toyota’s longstanding values and committed to remedy the issues that had arisen, thereby demonstrating his accountability as chairman of the company.
