Hiroshi Okuda, Key Figure in Toyota’s Global Rise, Dies at 93

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Tokyo: Hiroshi Okuda, former chairman and president of Toyota Motor Corp, who played a key role in transforming the Japanese carmaker into a global powerhouse and championed the creation of the revolutionary Prius hybrid, died at the age of 93. Toyota confirmed his death, although the date and cause were not immediately published.

Okuda joined Toyota in 1955 and rose through the ranks, despite being an outsider to the founding Toyoda family. He took over as president in 1995, at a time when the corporation was under pressure from Japan's strong yen and declining exports. He encouraged Toyota to increase its global output and minimise its reliance on Japanese exports.

One of his most significant accomplishments was funding the production of Toyota's Prius, a gasoline-electric hybrid that debuted in 1997. Okuda pushed for the vehicle to hit the market ahead of schedule, establishing Toyota as a pioneer in fuel-efficient and environmentally conscious automobile innovation.

Toyota's global sales increased significantly during his leadership as the corporation expanded its manufacturing and operations in international countries. He was chairman from 1999 until 2006 and afterward held important positions in Japan's business sector, including managing the influential Keidanren business federation.

Okuda was also recognised for his forthright managerial style and willingness to question Toyota's traditional leadership structure. His leadership is often credited with transforming Toyota from a successful Japanese carmaker to a truly global enterprise.