This Week:

• A Mercedes-Benz Classic Exits the Stage: The Last Current Generation SL-Class Roadster Rolls off the Line
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• GM Introduces Chevrolet Cruze For Asian Markets Compact Lifestyle Passenger Car Co-developed With Suzuki
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• PSA PEUGEOT CITROËN and TOYOTA MOTOR CORPORATION Announce They Should Sign Agreement on Joint Development and Joint Production
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• BMW 3 Series is America's Best Loved Car 
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• Audi reveals secret: Petrol direct injection triumphant at Le Mans / racing technology also for production vehicles
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• Renault confirms its lead in France in the first half of 2001
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• Toyota Announces Executive Management Changes
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• 112th Annual General Meeting of AUDI AG
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• BMW of North America Names Rob Mitchell To Head Corporate Communications Department
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• EPCOS/SIA Electronics Innovation Award for Valeo and Renault
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News of  July 04, 2001

Toyota Announces Executive Management Changes

Torrance, CA - Toyota Motor Sales, U.S.A., Inc. (TMS) announced executive management promotions, changes and additions at TMS and its affiliated companies, Toyota Financial Services and Toyota Material Handling, U.S.A.

Alan Cabito, formerly vice president, Sales Administration, has been promoted to group vice president, Sales Administration. Cabito will be responsible for Market Representation, Dealer Development, Future Retailing.com, Used Vehicles, Fleet, and Distribution Operations. Cabito will continue to report to Don Esmond, senior vice president and general manager, Toyota Division.

Fletcher Davidson, formerly corporate manager of U.S. distribution for North American Parts Operations (NAPO), has been promoted to vice president, Distribution and Financial Operations. He also will oversee the Toyota Customer Services Financial Reporting and Administration group. Davidson reports to Jane Beseda, vice president of NAPO.

Also at NAPO, David Graham has been promoted from national operations manager at the North American Parts Center in Kentucky to corporate manager, North American Parts Center Operations in Torrance, Calif. Graham will oversee the operations at both the Kentucky and California Parts Centers. Graham also will report to Beseda.

At Lexus, Ann Bybee has been promoted to the newly created position of Corporate Manager, Lexus Advertising, Brand and Product Strategy. Bybee joins Lexus from an expatriate position at Toyota Motor Corporation in Japan. Bybee will report to Mike Wells, vice president of Lexus marketing.

James Mooney, formerly national manager, eBusiness, has been promoted to corporate manager, Human Resources Consulting, taking over some of Barbara Jones’ responsibilities. Jones will continue with her responsibilities for Shared Services, Workforce Management and Process Improvement, as well as add responsibilities for Human Resources Information Systems and the PeopleSoft implementation. Both Mooney and Jones will report to Miles King, group vice president of Human Resources.

Al Smith, formerly national manager of Toyota Financial Services eBusiness, has been promoted to corporate manager, Toyota eBusiness. Smith is responsible for focusing on key initiatives to advance the integration of eBusiness and Web strategies/governance into daily business. He will report to Dave Illingworth, senior vice president, Planning and Development group.

Sanford Smith, national manager, Real Estate, is promoted to corporate manager, Real Estate and Facilities. Smith will continue with his current Real Estate responsibilities, as well as add those for Facilities. Smith will report to Robert Pitts, group vice president, Finance and Corporate Services.

At Toyota Financial Services (TFS), Geri Brewster, corporate manager of Human Resources and Administration, has been promoted to vice president, Human Resources and Real Estate. Brewster will continue to report to George Borst, president and CEO of TFS.

David Nordstrom, previously TFS national Business Process and Technology manager, has been promoted to corporate manager, Business Process and Technology. Nordstrom reports to Michael Groff, vice president, Planning and Development.

Julia Wada, national strategy manager, has been promoted to corporate manager, Strategy and eBusiness at TFS. Wada will assume responsibility for the eBusiness group, previously managed by Al Smith. Wada will continue to report to Groff.

At Toyota Material Handling, U.S.A, Alan Cseresznyak, national support manager, has been promoted to corporate manager, Finance and Information Systems. Cseresznyak reports to Shankar Basu, president and CEO of Toyota Material Handling, U.S.A.

Additionally, several key executives will be retiring.

John Turmell, senior vice president of Toyota Customer Services and Affiliated Companies will retire after 33 years at TMS. Previously, Turmell worked in many regional sales offices, was vice president of Sales Administration, group vice president of Toyota Industrial Equipment and senior vice president of the Customer Services Division and North American Parts Logistics Division.

John Koenig, vice president of Toyota Material Handling, U.S.A., is retiring after 24 years with the company. Koenig has been in his current position for three years, but also had served as vice president, Motorsports and president, Toyota Racing Development. He was a corporate manager for both the Customer Services Division and for Product Planning.

Mike Whitman, vice president, North American Parts Operations, has spent nearly 20 years with Toyota, mostly in the parts operations field. He has managed numerous Parts Distribution Centers and, most recently, was charged with overseeing all of the logistics for North American parts.

These changes will take effect July 1, 2001.

(June 25, 2001)

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