Reconstruction efforts in Middle East countries to fuel electricity demand growth: Saudi Association of Energy Economics chairman

TOKYO: Toyota Motor Corp. said on Thursday that Akio Toyoda would step down as president and CEO and hand over the helm of Japan’s largest automaker at a time when the company faces the challenge of adapting to zero-carbon transportation.

Koji Sato, a 53-year-old who is also president of Toyota’s luxury brand Lexus, will become the new CEO, the company said.

The current chairman Takeshi Uchiyamada will drop his chairman title but…