Toyota executives gain pay rise after profits boost

Toyota Motor Corp plans to boost directors pay by 20% after a 19% profit surge.

One reason for this profit increase is the President Akio Toyoda’s boosting of efficiency, a revamping crucial models (for example, the Camry Sedan), and re-invigorating the Lexus for the US luxury-market crown. The CEO has previously pledged to move priorities back toward quality and efficiency as opposed to a purely growth-minded mentality.    

The company will pay an average of £291,000 to 14 directors – not including external board members – for the fiscal year ended March. The bonuses paid to 12 executives will rise 45% to £7.5 million, subject to shareholder approval at a meeting next month.