AP: Toyota president battles crisis in family company

[Omaha Steve]

http://apnews.excite.com/article/20100219/D9DVFBS03.html

Feb 19, 3:35 PM (ET)

By YURI KAGEYAMA and DAN STRUMPF

TOKYO (AP) - Akio Toyoda's appointment as the president of Toyota last June was full of promise. The grandson of the automaker's founder, he was expected to boost morale for the rank and file and help steer the company through a brutal slump in the auto market.

Eight months later, he is being criticized as slow and indecisive as Toyota Motor Corp. grapples with the worst crisis in its 70-year history - global recalls ballooning to 8.5 million vehicles over four months. Its reputation for high-quality, reliable cars has been tarnished.

Toyoda, 53, said Thursday that he plans to testify at a U.S. congressional hearing next week about the automaker's recalls in the United States.

The announcement came two days after he said he wouldn't and follows an onslaught of criticism from both the Western and Japanese media about his reluctance to go to Washington.

Toyoda will testify before the U.S. House of Representatives Oversight and Government Reform Committee next Wednesday. By issuing the invitation, the committee had essentially forced Toyoda to testify.

"I am hoping our commitment to the United States and our customers will be understood," Toyoda told reporters. He said he intends to explain steps the company is taking to improve safety, which includes a special committee he is leading.

FULL story at link.