Title: Toyota Industries Faces Diesel Engine Certification Scandal – Chairman Toyoda Tetsuro and Vice Chairman Ohnishi Akira to Retire After Shareholders’ Meeting in June, Successor Named as Mr. Teramori Shigeki, Former Vice President of Toyota Motor Corporation and Current Executive Fellow.

Amidst the diesel engine certification irregularities, Toyota Industries Corporation announced on February 29th that Chairman Tetsuro Toyoda and Vice Chairman Akira Nishiwaki will retire after the shareholders’ meeting in June. Shigeki Terashi, former Vice President of Toyota Motor Corporation and current Executive Fellow, will succeed them. The retiring Toyoda will assume the role of Honorary Chairman following his departure from the company.