As reported by the Associated Press, Toyota Motor Corp. (Stock Quote: TM) President Akio Toyoda is expected to appear at a press conference tomorrow to field questions from the media about his company’s worldwide recall of nearly half a million Prius hybrid vehicles.
The press conference is set to take place in Tokyo, Japan. Turns out I probably won’t be able to pop over there for this, as much as I’d love to attend, so I hope someone there asks him three questions:
First, many have suggested that as Toyota has grown in the last two decades or so, its quality has suffered. Or to put it another way, they suggest that profit has become the paramount force driving the company. To what extent has Toyota cut corners to increase profits and how do you expect the corporate culture at the company to change following this incident?
Secondly, how long do you expect it will take for Toyota to recover from this debacle, from a public relations perspective? I mean, at least 34 people have died due “to sudden acceleration in Toyota vehicles,” and as a result, your company’s reputation has been severely tarnished. So, what’s the plan to convince people otherwise?
Finally, when did you personally first hear that there might be a problem with the accelerator or on-board software?
—For the best rates on loans, bank accounts and credit cards, enter your ZIP code at BankingMyWay.com.