Magazine article Newsweek

Katsuaki Watanabe

Magazine article Newsweek

Katsuaki Watanabe

Article excerpt

With rivals struggling, Toyota's chief is set to dominate the auto industry.

Katsuaki Watanabe is not looking for a bailout from anybody. Sure, the straight-talking president of Toyota is weathering the same storm buffeting all the world's automakers. Toyota's sales are down, especially in the United States, its largest, most profitable market. That's why Watanabe has slashed bonuses, staff and spending, while ratcheting down his 2008 profit projection to one third of what Toyota made last year. But that's the difference between Toyota and Detroit--even in a bad year, Toyota expects to make $6 billion, not suffer the Hummer-size losses that sent Motown's CEOs begging to Washington.

While Watanabe, 66, carries more clout in the global auto industry than anyone else, he doesn't want to focus on Toyota's success. He'd rather focus on its flaws. So when Toyota, which he took over in 2005, suffered a series of embarrassing recalls early in his tenure, he declared a "crisis" and made a public apology. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.