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Toyota appoints family member as president

Akio Toyoda is appointed as president of Toyota Motor Company.

Akio Toyoda, the grandson of Toyota Motor's founder, has been named president and representative director for the company. The shareholders confirmed the appointment Monday.

The company was founded by Kiichiro Toyoda in 1937, and is currently one the world's largest automakers.

The announcement comes on the heels of a massive tree-planting event held over the weekend in Bangalore. Thirty thousand trees were planted by 6,000 volunteers at the event.

(Source: Toyota Motor)