Toyota Names 1st American President of U.S. Sales Unit
Toyota Motor Corp. has named James Press president of its U.S. sales unit, the first time an American has held the position.
Press replaces Yukitoshi Funo, who was named chairman of Torrance-based Toyota Motor Sales USA. Funo will also be “chief officer” of all of Toyota’s North and South American sales, distribution and manufacturing operations.
Both men are 58. Press retains his title of chief operating officer of the U.S. sales and distribution unit, while Funo remains chief executive.
Press’ appointment doesn’t materially change his duties with Toyota, where he already serves on the firm’s global management board and is considered one of the most influential executives in the auto industry.
“It’s recognition of the outstanding job Press has done there,” said George Peterson, president of AutoPacific Inc., a Tustin-based automotive market research firm. “He’s certainly the right guy to be leading this juggernaut at this time.”
Press joined Toyota in 1970 as a marketing executive after leaving Ford Motor Co. He rose through Toyota’s U.S. ranks, working in the service, marketing, product planning, ad and distribution departments.
His soft-spoken demeanor belies a fiercely competitive nature. Press is an active member of the Los Angeles and Peninsula Masters Swim team and often spends weekends vying for ribbons in triathlons.
His competitiveness has helped Toyota become the leading import brand in the U.S., with a 13.3% market share as of May. Toyota was the first foreign automaker to pass the 1 million and 2 million annual sales levels, and Press was in command of key divisions each time.
He took over Lexus in 1995 just as the U.S. slapped a tax on imported luxury cars. He persuaded Toyota to dress up its Land Cruiser sport utility vehicle and sell the new version in the U.S. as the Lexus LX450. That helped create the luxury SUV market, and other carmakers soon raced to field entries.
Press also helped create Toyota’s success with its Prius gas-electric hybrid. He urged Toyota to come up with a futuristic redesign of the Prius and pushed the company to expand production of the car to satisfy heavy demand in the U.S.
Insiders also give Press much of the credit for the surprising performance of Toyota’s youth-oriented Scion brand. He saw the possibilities in bringing funky Japanese-market vehicles like the refrigerator-box shaped Scion xB to the U.S. to give younger buyers vehicles that didn’t look anything like their parents’ cars and trucks.
Toyota shares fell 76 cents Thursday to $71.75.
