Welcome to the North American Subaru Impreza Owners Club Saturday July 26, 2014
Home Forums WikiNASIOC Products Store Modifications Upgrade Garage
NASIOC
Here you can view your subscribed threads, work with private messages and edit your profile and preferences Home Registration is free! Visit the NASIOC Store NASIOC Rules Search Find other members Frequently Asked Questions Calendar Archive NASIOC Upgrade Garage Logout
Go Back   NASIOC > NASIOC General > News & Rumors > Non-Subaru News & Rumors

Welcome to NASIOC - The world's largest online community for Subaru enthusiasts!
Welcome to the NASIOC.com Subaru forum.

You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our community, free of charge, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is free, fast and simple, so please join our community today!

If you have any problems with the registration process or your account login, please contact us.
* Registered users of the site do not see these ads.
Reply
 
Thread Tools Display Modes
Old 12-23-2008, 08:21 PM   #1
Hazdaz
Scooby Guru
 
Member#: 14611
Join Date: Jan 2002
Default Toyota President Ken Watanabe Expected To Step Down In 2009

http://jalopnik.com/5117231/toyota-p...p-down-in-2009

Toyota President Ken Watanabe Expected To Step Down In 2009



Quote:
The Wall Street Journal is reporting Toyota President Katsuaki "Ken" Watanabe will step down from his post in 2009.

We're betting it may be early considering Watanabe turned down his Detroit Auto Show invite. The CEO of Toyota Motor Company has been at the helm during its rise to market dominance but with yesterdays announcement of a $1.7 billion annual loss, Toyota may be set for a changing of the guard.

WSJ
goes on to posit that Akio Toyoda, an executive vice president at Toyota and grandson of Toyota's founder Kiichiro Toyoda, will step up to the plate and take over as President.

We'll shy away from the easy joke of executive seppuku, since it cannot be argued that Watanabe has served honorably during his lengthy career with Toyota and in his Presidency of the automotive goliath since 2001.The guy is 66, maybe it's just time to retire
Interesting development. I think one of the guys over at Jalopnik said it best:

Quote:
Sure shows what different corporate and social norms there are. On the whole, Toyota's done very well over the past eight years. US executives would be the loudest guys in the room to defend their salaries and pushing fort even bigger bonus packages. Watanabe has a bad two quarters and steps down the next day, right or wrong.


If nothing else, it makes it a lot easier for the rest of the employees to accept the layoffs, cuts, and the lack of hand dryers in the bathrooms. Having a Toyoda take the helm will also insulate upper management a bit, if the next year or two is rocky.
I would also be very curious to find out how much Watanabe has been making in compensation and what his Golden Parachute will be versus Wagoner (GM) and Mullaly (Ford).
* Registered users of the site do not see these ads.
Hazdaz is offline   Reply With Quote
Old 12-23-2008, 08:39 PM   #2
JC
NASIOC Supporter
 
Member#: 692
Join Date: Dec 1999
Chapter/Region: SCIC
Vehicle:
2006 Pontiac GTO M6
Triumph Street Triple R

Default

Quote:
Originally Posted by Hazdaz View Post
I would also be very curious to find out how much Watanabe has been making in compensation and what his Golden Parachute will be versus Wagoner (GM) and Mullaly (Ford).
Me too but this is all I could find...

Quote:
Pay differences between American and Japanese auto executives run even wider.

In the fiscal year that ended in March 2007, Toyota’s top 32 executives — a group that included CEO Katsuaki Watanabe — together pulled in $7.8 million in bonuses on top of salaries of $12.1 million. For the comparable period, one single GM exec, CEO Rick Wagoner, raked in $10.2 million.
http://www.ourfuture.org/blog-entry/...top-auto-execs
JC is online now   Reply With Quote
Old 12-23-2008, 08:44 PM   #3
edkwon
Scooby Specialist
 
Member#: 453
Join Date: Oct 1999
Location: 小さいӔ
Vehicle:
2014 Audi S4 B8
Metallic Gray

Default

He was pretty good in Last Samurai, i liked most of his movies, i didn't know he ran Toyota either, wow

edkwon is offline   Reply With Quote
Old 12-23-2008, 09:04 PM   #4
whoosh
Scooby Specialist
 
Member#: 40989
Join Date: Jul 2003
Chapter/Region: Tri-State
Vehicle:
OT vag inspector

Default

whoosh is offline   Reply With Quote
Old 12-23-2008, 09:17 PM   #5
LastResort
Scooby Guru
 
Member#: 99289
Join Date: Oct 2005
Default

Quote:
Originally Posted by Hazdaz View Post
I would also be very curious to find out how much Watanabe has been making in compensation and what his Golden Parachute will be versus Wagoner (GM) and Mullaly (Ford).
Old data but:

http://www.manifest.co.uk/news/2004/20040510Forbes.htm

about 500k.
LastResort is offline   Reply With Quote
Old 12-23-2008, 09:46 PM   #6
Hazdaz
Scooby Guru
 
Member#: 14611
Join Date: Jan 2002
Default

Quote:
Originally Posted by JC View Post
Me too but this is all I could find...



http://www.ourfuture.org/blog-entry/...top-auto-execs
Quote:
Originally Posted by LastResort View Post
Yea, see there is apparently conflicting reports as to how much he actually makes. My gut tells me that even though Toyota is a VASTLY more successful company, his compensation is a fraction of what the Ford and GM guys make, which speaks volumes of how poorly run and over-compensated Corporate America is versus the rest of the world.

I also vaguely recall when Mercedes bought... opps, I mean 'merged' with Chrysler, there was a ton of talk concerning how much more the Chrysler execs were making versus their German counterparts, even though the Germans were the ones buying up the weaker American company.
Hazdaz is offline   Reply With Quote
Old 12-23-2008, 10:09 PM   #7
Daishi00
Scooby Guru
 
Member#: 78952
Join Date: Jan 2005
Chapter/Region: MAIC
Location: BSG junkie
Vehicle:
2005 WRX
CGM

Default

American CEO's make something like 3-10x the average CEO from Asia and Europe. Read an old article on it though so it could be outdated.
Daishi00 is offline   Reply With Quote
Old 12-23-2008, 11:27 PM   #8
Hazdaz
Scooby Guru
 
Member#: 14611
Join Date: Jan 2002
Default

Quote:
Originally Posted by Daishi00 View Post
American CEO's make something like 3-10x the average CEO from Asia and Europe. Read an old article on it though so it could be outdated.
That sounds about right, because I read a WSJ article years ago that stated that the average American CEO makes 500x what the average person at his company is making.... which is a disgustingly greedy number, and even more so because they also compared it to other countries like Japan, Germany, Canada and Mexico, the ratio was 50x or less.
Hazdaz is offline   Reply With Quote
Old 12-24-2008, 09:48 AM   #9
design1stcode2nd
Scooby Specialist
 
Member#: 112178
Join Date: Apr 2006
Default

You won't see ole Rick stepping down and he has lost his company and shareholder's billions. The man has no shame.
design1stcode2nd is offline   Reply With Quote
Old 12-24-2008, 09:50 AM   #10
JC
NASIOC Supporter
 
Member#: 692
Join Date: Dec 1999
Chapter/Region: SCIC
Vehicle:
2006 Pontiac GTO M6
Triumph Street Triple R

Default

Quote:
Originally Posted by LastResort View Post
That sure looks like it says $900k to me? Which would put him in the ~$1 million range that I've seen in multiple places.
JC is online now   Reply With Quote
Old 12-24-2008, 10:00 AM   #11
LastResort
Scooby Guru
 
Member#: 99289
Join Date: Oct 2005
Default

Quote:
Originally Posted by JC View Post
That sure looks like it says $900k to me? Which would put him in the ~$1 million range that I've seen in multiple places.
What's 400k between you and me?
LastResort is offline   Reply With Quote
Old 12-24-2008, 12:02 PM   #12
Yobz
Scooby Newbie
 
Member#: 121490
Join Date: Jul 2006
Chapter/Region: NESIC
Location: Cambridge, MA
Default

Man, running a company like Toyota and only making 1MM a year? Sucks for him, seriously.
Yobz is offline   Reply With Quote
Old 12-24-2008, 01:14 PM   #13
AVANTI R5
Scooby Guru
 
Member#: 73805
Join Date: Nov 2004
Default Toyota Denies CEO Stepping Down

Quote:
Toyota has emphatically denied the rumors that it plans to replace its CEO. We reported yesterday that the automaker was considering replacing Katsuaki Watanabe with Akio Toyoda, the company’s founder’s grandson, but now Toyota has officially denied that there is any consideration to replace Watanabe. The rumors surfaced after Toyota announced early this week that it will post its first ever operating loss.


“We deny the report,” Toyota spokesman Hideaki Homma told Bloomberg.



Still, Watanabe’s future is unclear. Toyota, like most Japanese corporations, is controlled primarily at the very top of the command chain by an elite group that isn’t always evident, even to employees. The Detroit News reports that the president, chairman, board members and honorary chairmen would make the decision regarding Watanabe’s future with the company.


Some reports indicate that Toyoda could still replace Watanabe. It’s believe that he was placed in his position in 2005 - currently heading sales in Japan and overseas - with the intention of eventually inheriting the throne.



Reasons for Watanabe’s potential departure are unclear. It would be difficult to pin the current downturn in global sales on him given that Toyota’s drop is based on the credit market, not lack of interest in its products.


The Detroit News reports that a company official said he believed the board was unlikely to blame Watanabe for the automaker’s difficulties in the severe global sales downturn.
http://www.leftlanenews.com/toyota-d...place-ceo.html
AVANTI R5 is offline   Reply With Quote
Old 12-24-2008, 01:22 PM   #14
LastResort
Scooby Guru
 
Member#: 99289
Join Date: Oct 2005
Default

Quote:
Originally Posted by Yobz View Post
Man, running a company like Toyota and only making 1MM a year? Sucks for him, seriously.
I'd rather be him, than Rick. Having an all expense paid trip to the underworld, is not worth the 9 million dollar difference.
LastResort is offline   Reply With Quote
Old 12-24-2008, 03:34 PM   #15
2000wrx
Scooby Specialist
 
Member#: 66659
Join Date: Jul 2004
Location: geronimo66 at work
Vehicle:
2000 L WRX'd

Default

I remember reading many times that the Toyota CEO made roughly 1 million in total compensation, or roughly 1 mid level GM exec. :\
2000wrx is offline   Reply With Quote
Old 12-25-2008, 03:37 AM   #16
AVANTI R5
Scooby Guru
 
Member#: 73805
Join Date: Nov 2004
Default Reports: Akio Toyoda top candidate to replace Watanabe at Toyota

Quote:
The grandson of Toyota Motor Corp.'s founder is considered the most likely candidate to take over as president of the company next year, according to numerous media reports in Japan and the U.S.

Akio Toyoda, 52, is currently an executive vice president of the Japanese automaker. His grandfather, Kiichiro Toyoda, founded the company.

Toyota President Katsuaki Watanabe, 66, is expected to move to the largely ceremonial chairman's post next year, according to the reports.

Toyota officials in the United States, contacted by Automotive News, would not comment on the report. Other news reports quoted spokesmen as calling talk of Watanabe's departure as "speculative" and "premature."

Some senior personnel changes at Toyota typically happen in January, but changes at the presidential level usually come at midyear, after being approved at the June shareholders meeting.

Some reports are connecting Watanabe's departure to Toyota's forecast of a rare operating loss of 150 billion yen, or $1.66 billion at current exchange rates, for the fiscal year that ends March 31, 2009. That will represent a stunning swing from a record operating profit of $25.06 billion a year earlier.

"This is very, very, very bad," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments. "There's a chance they could fall into the red in the next business year as well."

On the other hand, Watanabe has been president for four years. A typical term for a Toyota president is four to six years.

If Watanabe becomes chairman, he would replace Fujio Cho, 71, who opened Toyota's manufacturing complex in Georgetown, Ky.

Reuters contributed to this report.
1111111
AVANTI R5 is offline   Reply With Quote
Old 12-26-2008, 03:57 PM   #17
VWGrk1
Scooby Specialist
 
Member#: 57882
Join Date: Mar 2004
Chapter/Region: MWSOC
Location: Chicago
Vehicle:
2004 WRX
WRB

Default

Quote:
Originally Posted by edkwon View Post
He was pretty good in Last Samurai, i liked most of his movies, i didn't know he ran Toyota either, wow

LOL, I was thinking the same!
VWGrk1 is offline   Reply With Quote
Old 12-26-2008, 08:13 PM   #18
Balantz
Scooby Specialist
 
Member#: 101457
Join Date: Nov 2005
Chapter/Region: NWIC
Vehicle:
Czar of Sweet Dance
Moves

Default

Quote:
In the fiscal year that ended in March 2007, Toyota’s top 32 executives — a group that included CEO Katsuaki Watanabe — together pulled in $7.8 million in bonuses on top of salaries of $12.1 million. For the comparable period, one single GM exec, CEO Rick Wagoner, raked in $10.2 million.


Oh, I'm sorry, I thought it was UAW that needed to take cuts to their pay...

Corporate ****ers...
Balantz is offline   Reply With Quote
Old 12-26-2008, 08:26 PM   #19
Hazdaz
Scooby Guru
 
Member#: 14611
Join Date: Jan 2002
Default

Quote:
Originally Posted by Balantz View Post


Oh, I'm sorry, I thought it was UAW that needed to take cuts to their pay...

Corporate ****ers...
BINGO!

Corporate America knows no shame and has no limits to the amount of their greed.

American CEOs and other top execs can be pulling in tens of millions of dollars each year EACH, yet it's the guy on the shop floor that might be making a couple of bucks more than some other shop guy that is bankrupting the company. Yeah... uh huh.
Hazdaz is offline   Reply With Quote
Old 12-27-2008, 02:04 AM   #20
Balantz
Scooby Specialist
 
Member#: 101457
Join Date: Nov 2005
Chapter/Region: NWIC
Vehicle:
Czar of Sweet Dance
Moves

Default

I simply cannot describe how angry this makes me.
Balantz is offline   Reply With Quote
Old 12-27-2008, 12:36 PM   #21
shikataganai
Scooby Specialist
 
Member#: 92634
Join Date: Aug 2005
Chapter/Region: RMIC
Vehicle:
2007 Land Cruiser
2013 LEAF

Default

Quote:
Originally Posted by Hazdaz View Post
BINGO!

Corporate America knows no shame and has no limits to the amount of their greed.

American CEOs and other top execs can be pulling in tens of millions of dollars each year EACH, yet it's the guy on the shop floor that might be making a couple of bucks more than some other shop guy that is bankrupting the company. Yeah... uh huh.
when you compare the number of execs and the cost of a few jets to the cost of paying 50% more for labor + benefits x thousands of workers, yeah, it is the workers making the company go bankrupt to a large degree.
shikataganai is offline   Reply With Quote
Old 12-27-2008, 12:58 PM   #22
Hazdaz
Scooby Guru
 
Member#: 14611
Join Date: Jan 2002
Default

Quote:
Originally Posted by shikataganai View Post
when you compare the number of execs and the cost of a few jets to the cost of paying 50% more for labor + benefits x thousands of workers, yeah, it is the workers making the company go bankrupt to a large degree.
You have absolutely no clue what you are talking about, and instead use the average Joe as the scapegoat for all their ills... which is of course quite typical of the problem with Corporate America as a whole - blame someone else.
Hazdaz is offline   Reply With Quote
Old 12-27-2008, 01:33 PM   #23
Balantz
Scooby Specialist
 
Member#: 101457
Join Date: Nov 2005
Chapter/Region: NWIC
Vehicle:
Czar of Sweet Dance
Moves

Default

Quote:
Originally Posted by shikataganai View Post
when you compare the number of execs and the cost of a few jets to the cost of paying 50% more for labor + benefits x thousands of workers, yeah, it is the workers making the company go bankrupt to a large degree.
Funny, Costco pays its workers wayyyyy more than Wal-Mart, but they aren't going to the government with cup in hand. It is possible to provide good jobs at good wages without becoming financially insolvent.
Balantz is offline   Reply With Quote
Old 12-27-2008, 01:55 PM   #24
Hazdaz
Scooby Guru
 
Member#: 14611
Join Date: Jan 2002
Default

Quote:
Originally Posted by Balantz View Post
Funny, Costco pays its workers wayyyyy more than Wal-Mart, but they aren't going to the government with cup in hand. It is possible to provide good jobs at good wages without becoming financially insolvent.
No, what are you talking about.... don't try to escape 20+ years of brainwashing!
It is OF COURSE the worker's fault for everything... how dare they make a couple of bucks more than a competitor... that will bankrupt the company. Never mind the fact that as a whole, labor costs are a fraction of the overall costs of most products (cars included)... a stat conveniently ignored by all the brainwashed folks.

Now, executive compensation going up into the millions of dollars, and being multiple-times what the competition pays? No... that doesn't effect the bottom line at all!

The people that think that it's always the worker's fault are the same idiots that bought into the disastrous Trickle-Down theories of Reaganomics that have brought about many of the issues we have today.
Hazdaz is offline   Reply With Quote
Old 12-27-2008, 09:30 PM   #25
shikataganai
Scooby Specialist
 
Member#: 92634
Join Date: Aug 2005
Chapter/Region: RMIC
Vehicle:
2007 Land Cruiser
2013 LEAF

Default

Quote:
Originally Posted by Hazdaz View Post
You have absolutely no clue what you are talking about, and instead use the average Joe as the scapegoat for all their ills... which is of course quite typical of the problem with Corporate America as a whole - blame someone else.
i'm not condoning executive behavior or huge paychecks, but the truth is that VEBA and posh benefits packages for the hordes of UAW employees is much more of a burden on GM's bottom line than a couple of jets or a dozen execs who pull down $10+ million.
shikataganai is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Bill Gates to step down from microsoft tommy2hotty Off-Topic 70 06-27-2008 05:32 PM
What can i expect to put down for AWHP Drowner Factory 2.0L Turbo Powertrain 4 04-21-2008 07:54 PM
Steve Johnson To Step Down as SCCA President, Moves To Champ Car KC Motorsports 16 08-17-2005 03:20 PM
Am I Out Of Line If I Ask Someone To Step Down From Bridesmaid Duties? Staar Off-Topic 72 01-04-2005 05:48 PM
Powell to step down in 2005 beethoven Political Playground 17 08-07-2003 07:01 PM


All times are GMT -4. The time now is 09:46 AM.


Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Powered by Searchlight © 2014 Axivo Inc.
Copyright ©1999 - 2014, North American Subaru Impreza Owners Club, Inc.