Toyota declares new executive to lead Brazil operations

Toyota Motor stated on Saturday that a new chief executive officer will head its Brazil operations starting January 2, next year.

The automaker said Rafael Chang would take control of the company’s biggest South American operation. He will replace Koji Kondo, whom the automaker applauded as leading Toyota through hard years as demand for cars in Brazil has fallen by 50% in the last 4 years.

Toyota, the country’s fifth-largest automaker by sales, said Chang, after a stint of leading the automaker’s operations in Venezuela, would help the business expand a lot more rapidly.

Toyota had estimated of 4.3 percent of country’s passenger car market in 2014. Its share is now at 8.8 percent, the automaker stated.