At Toyota Motor's annual shareholder meeting earlier this month, the automaker's longstanding CEO sobbed as he recounted how, in his early years at the head, he had been despised by other executives—and how the experience had helped him forge a link with the rank and file.

Toyoda recalled his early years at the top of the company: "As the son of the president, I was a presence that people felt they should avoid as much as possible—an untouchable presence." "The people who supported me through that were those working at the grassroots," he remarked, stopping to fight back tears.

Politics Within Toyota

Toyoda, 67, has made it a custom to sob during shareholder meetings because he views them as once-a-year opportunities to reflect and reassess. These quotes from the self-described "prone-to-tears president" show a very different side of him than what people may think of the descendant of an auto dynasty.

The founding father of the current largest manufacturer in the world based on car sales was Kiichiro Toyoda. Shoichiro Toyoda, who just passed away at the age of 97, operated the business for ten years.

But according to Akio Toyoda, when he took over in 2009 after a string of nonfamily presidents, it wasn't regarded as the coronation of the legitimate heir. At this year's gathering, he recounted how he felt "unwanted by everyone." There were tears. He added, "My heart broke many times, and more than once or twice I considered giving up."

Toyoda's belief that he is in a struggle with arrogant elites is reflected in the way he now discusses the switch to electric vehicles in the auto industry. Toyoda said in December that he was speaking for the "silent majority" in the auto industry who questioned whether it was appropriate to limit consumers' choices to EVs.

He went on to say that due to pressure from pro-EV organizations, many individuals are reluctant to express their concerns about EVs.

Toyoda claims that it was his personal experience of discrimination that led him to access these sources of thought.

By handing over the presidency to 53-year-old Koji Sato, the former director of Toyota's motorsports branch and premium Lexus brand, Toyoda assumed the chairmanship at Toyota in April.

Toyota's sales and profitability were severely impacted by the global financial crisis when Toyoda took office as president in 2009. Toyota was also having issues at the time with unexpected acceleration and other issues with their vehicles.

In his early years, Toyoda withdrew and started fixing issues he claimed his forerunners' hasty expansionist endeavors had created. He reduced expenses and started to change what he perceived as an unduly bureaucratic culture where desk-bound executives in Japan plotted out universal automobile models.

Toyota increased its global presence by introducing a range of vehicles catering to local needs, such as an economical line of trucks for developing nations. In his first year, the business produced a profit, and it continued to expand after that.

He flaunted his passion for the racecourse and the tactile pleasures of driving along the route, seeming more at ease while conversing with race-car drivers and mechanics and performing some stunt driving in fast vehicles.

Throughout his tenure as president, Toyoda frequently remarked on how much he adored the sound of an engine and the scent of petrol. The vehicle manufacturer has entered races using hydrogen-burning engines, a technology Toyoda loves to highlight, as a result of the collision of these interests and demands to cut carbon emissions.

Toyoda has wept in front of the public a number of times outside of shareholder meetings, including a meeting with American dealers in the middle of a significant recall in 2010. It was said that the meeting demonstrated his sincerity and dedication to finding solutions.

When the business was able to project a profit for the fiscal year in 2020 despite Covid-19-related interruptions, Toyoda sobbed once again. The next year, he informed shareholders, "Presidentship is a lonely responsibility. "Yet I was somehow able to advance in defiance of the mainstream."

Toyoda perceives himself as being opposed once more by powerful individuals who despise the common sense he exudes. Regulators, environmental organizations, and a few stockholders from areas like Scandinavia, New York, and California are invading.

Dark Side Of EVs

On June 14, numerous American and European funds attempted to remove Toyoda from his board position at Toyota's annual meeting. They highlighted concerns with governance and the part he allegedly played in preventing the manufacturer from going all-in on EVs.

With an 85% majority, Toyoda handily defeated the challenge and was re-elected to the board he chairs. Nevertheless, that was a decrease from 96% a year prior.

Toyoda has pushed for what he refers to as a more practical strategy, one that includes providing a wide variety of ecologically efficient automobiles. The business intends to continue providing customers with hybrid-electric and hydrogen-powered automobiles while also accelerating its push toward EVs. Contrary to other automakers like Honda and General Motors, who have established deadlines for when their lineups will be all EVs.

In a January speech on the sidelines of an auto show, Toyoda said he was thinking about consumers in places around the world where the infrastructure for charging is lacking and power is produced from carbon-emitting fossil fuels.

There are certain organizations that want to capitalize on the environment, according to Toyoda. He said that as the leader of a multinational corporation, "what I'm preaching is based on the reality of users in a number of markets."

Brad Lander, the comptroller of New York City, claimed he abstained from Toyoda's re-election in order to make a statement to Toyota management. Toyota is "sending a signal of resistance to the climate transition," according to Lander, under Toyoda's direction.

Many Toyota observers predict that Toyoda's son, Daisuke, will play a significant role in the future.

Akio Toyoda has promised to assist newly elected President Sato in his duties in the meantime.

President of Toyota is a lonely and challenging job, Chairman Toyoda told me, Sato stated at the shareholders meeting.

Then Sato's time to hold back her tears came.

Sato quoted Toyoda as saying, "I positively don't want you to have the succession experience I had." You have a lot of allies. Don't feel alone.