CYPRESS, Calif. – Toyo Tire Holdings of Americas Inc. (TTHA) today announced that the company’s president, Masaharu Yoshimoto, will be retiring at the end of March, and that Takashi Shimizu has been appointed its president, effective April 1.
Yoshimoto served in numerous capacities during a 38-year career with the Toyo group of companies in the U.S., Japan and in Australia, where he was managing director and CEO of Toyo Tyre & Rubber Australia Limited. In February 2005, Yoshimoto was appointed senior vice president of Toyo Tire U.S.A. Corp. (TTC), later becoming its president and CEO. A senior corporate officer of Toyo Tire & Rubber Co. Ltd (TTR), he was appointed president of TTHA in January 2009.
Commenting on his retirement, Yoshimoto said, “The tire industry continues to undergo change as we deal with today’s economic uncertainties. Through this challenging period, what remains unchanged is our commitment to our loyal dealers and customer base. I would like to express my appreciation to them for their support and cooperation over the years, and to ask that they extend the same to Takashi Shimizu. Thank you very much!”
Yoshimoto’s successor, Shimizu joined TTR in Osaka, Japan, in 1985, and has served in the accounting, finance and planning departments. From 1993 to 1999, Shimizu was general manager of accounting and finance for Toyo Tires in Germany. Shimizu began his tenure in the United States in April 2007 as vice president and CFO of Toyo Tire U.S.A. Corp. (TTC). He has played a significant role in the establishment of TTHA, and has served as senior vice president and CFO since its inception in January 2008.
“My vision for the future is to increase the value of our six subsidiary companies, including Mexico and Canada,” said Shimizu. “This will be accomplished through strengthening structures for corporate governance, by enhancing managerial systems, and the completion of the approximately $300 million expansion of our manufacturing facility in Georgia. We will continue to enhance our positioning of both the Toyo and Nitto brands as suppliers of high-quality tires.”
