The head of New Zealand's number one car brand, Toyota, has announced his resignation. The change is effective immediately, with Lala referred to as the company's "former CEO" in a media release.
Neeraj Lala has been chief executive officer of Toyota NZ (TNZ) for four years, but has been with the company for 26 years, joining straight out of university.
In an media statement, TNZ said: "Mr Lala has been a pivotal part of our organisation... contributing significantly to our growth and success. Most recently he has been instrumental in guiding us through the Covid-19 pandemic and associated global supply constraints, introducing our line-up of electrified product, proactive and transparent government advocacy, and maintaining a customer-focused approach throughout. The Board says, we sincerely thank him for his dedication and leadership".
Lala also made a statement in the official release: "I have loved every moment of my time at Toyota. My total working life of 26 years straight from university is a long time with one company, and I am incredibly proud of what we have accomplished together.
"At 50, it feels like the right time in my life and career to transition out of the CEO role, especially with Toyota in such good health. As many know, I have a broad passion for business, and it's time to explore those interests further.
"So many memories will remain with me forever, including our amazing people, winning Kantar’s Corporate Reputation Index, leading the company to 36 years of consecutive market leadership in four of our toughest years, and my time in Los Angeles with Toyota in North America.
"My passion for clean energy and the introduction of Toyota’s hydrogen fuel cells to New Zealand is also another highlight.
"Mostly, I am grateful for the opportunity to have led such a dedicated and talented team. I am confident that the company is in good hands and poised for continued success."
Toyota has announced that Tatsuya Ishikawa will continue in the role of acting chief executive officer. Mr Ishikawa has been with Toyota Motor Corporation for 20 years and TNZ for more than a year in his capacity as vice president and chief coordinating officer.