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Toyota to cut board

Toyota Motor said today that it is to cut the size of its board in half and create a sub-board executive category to reflect the global nature of the business.

The largest market for Toyota is now the United States, which contributes 80 per cent of iits profit – but 58 of Toyota's board members have been Japanese.

Under the revised structure, the board will have 20 to 30 members, bringing it more in line with its competitors. Honda Motor has 36 directors. Nissan Motor, which is part owned by Renault of France, cut its board by two-thirds in 1999 and will trim it again, to seven members, after shareholders meet in June.

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