Wages rise, despite falling profits
The fiscal year ending March 31, 2025, saw Toyoda’s compensation increase by 20% compared to the previous year, reaching 1.95 billion yen. Notably, this figure was paid in his role as president of the group, after he had previously resigned from the CEO position.
Toyota's adoption of a global pay system, along with no individual performance reviews for the president position, is seen as the reason for Mr. Toyoda's sharp increase in income - despite the fact that the company's profit in 2024 fell 10%.
Significant difference compared to current CEO
Notably, Mr. Akio Toyoda's salary is double that of his successor - current CEO Koji Sato, who received only 826 million yen (about 148 billion VND) in the same period. This is also the 4th consecutive year that Mr. Toyoda has held the "highest salary" position in Toyota's leadership.
A regulatory report published by Nikkei Asia also revealed that at least seven senior Toyota executives received compensation of over 100 million yen, equivalent to 18 billion VND, including retirees.
Toyota sells fewer cars but still retains the "throne"
The financial picture is somewhat bleak in 2024: Toyota delivers about 10.8 million vehicles, down 400,000 from 2023 (11.2 million), or a 3.7% decline. However, the company will still retain its position as the world's best-selling carmaker for the fifth consecutive year.
Behind Toyota is Volkswagen with 9 million cars sold, followed by Hyundai with 7.23 million cars last year.
Although Akio Toyoda's $13.4 million salary is eye-catching, compared to other "big guys" in the industry, he still only ranks 4th on the list of highest-paid leaders:
Number 1: Mary Barra – Chairman and CEO of General Motors – received 29.5 million USD (771 billion VND).
Number 2: Jim Farley – CEO Ford – received 24.9 million USD (651 billion VND).
Number 3: Carlos Tavares – former CEO of Stellantis – received 23.9 million USD (625 billion VND) before leaving the position at the end of 2024.
Mr. Tavares' successor - Antonio Filosa - will receive about 10.2 million USD (267 billion VND) in his first year running Stellantis Group, still lower than Volkswagen CEO - Oliver Blume with 11.9 million USD (311 billion VND).
In addition, Hyundai CEO Euisun Chung received 8.8 million USD (230 billion VND), while former Renault CEO Luca de Meo ended his term with 6.2 million USD (162 billion VND).
Akio Toyoda’s story is a testament to the fact that in the auto industry, honorary roles can sometimes bring incredible payoffs, especially when tied to an iconic brand like Toyota. And while he may no longer hold the top executive position, Toyoda remains one of the most powerful and well-rewarded figures in the automotive world.
Source: https://khoahocdoisong.vn/loi-nhuan-giam-chu-cich-toyota-van-nhan-luong-350-ty-dong-post1549920.html
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