Toyota shareholders approve entry of Press into board

06/22/07 - newratings.com

LONDON, June 22 (newratings.com) – Japanese automobile giant Toyota Motor Co (TOM) Friday announced that its shareholders had approved the appointment of Jim Press, the president of its North American subsidiary, as the first non-Japanese member of the board of directors.

Press, who has been with the automobile company for the past 37 years, was elected to Toyota Motor’s board as a senior managing director in April this year. The appointment comes at a time when Toyota Motor is witnessing robust sales in North America and is widely expected to replace General Motors as the world’s number one car manufacturer.