16.09.2009

Shankar Basu exits Toyota

Toyota Material Handling, U.S.A, the Aichi master distributor for the USA, has announced that its chairman and chief executive, Shankar Basu is retiring, effective immediately.

Basu led the company for more than 10 years and is credited with turning Toyota into the market leading lift truck supplier in the USA.
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Shankar Basu (L) with successor Brett Wood

Ted Toyoda, president of Toyota Industries, said: “As a direct result of his efforts, Toyota has surpassed all of its competitors to capture the number one market share position in the U.S. since 2002.”
Basu also served on the boards of numerous industry associations, including the Material Handling Industry of America and Roundtable of Industry Leaders.

Brett Wood, president of Toyota Material Handling who will take over Basu’s role and said:. “Shankar has been a tremendous leader for Toyota and has made a lasting impression on our associates, dealers and the lift truck industry, I’m thankful to have worked by his side and learned from him during my 20-year tenure at Toyota. I will continue to advance Toyota’s leadership position with many of the strategies he introduced.”