Toyota says to reshuffle top management

TOKYO: Japan's Toyota Motor said Tuesday that it would reshuffle its top management, introducing a new president as it tries to turn around its business amid an industry slump.

The company said it would name its new top management at a press conference later in the day.

According to earlier Japanese media reports, Toyota is likely to promote executive vice president Akio Toyoda, a grandson of its founder, to president with a mission to rescue the auto giant from its biggest ever crisis.