Leroy Becomes Highest-Paid Toyota Executive

June 26, 2018

Nagoya- Toyota Motor Corp. Executive Vice President Didier Leroy has become the highest-paid official ever at the top Japanese automaker, according to its financial report for the business year to March 2018.

Toyota paid 1,026 million yen to Leroy, 60, in the year, up about 50 pct from the preceding year, the company said in the report released on Monday. It was the first time for any Toyota executive to receive more than one billion yen in annual compensation.

The pay of Toyota President Akio Toyoda in the latest year increased 18 pct to 380 million yen.

In the business year, Toyota's group net profit jumped 36.2 pct year on year to a record 2,493.9 billion yen.

A Toyota official said that the company decided the pay hike for Leroy by comprehensively taking into account such factors as its solid earnings performance, the need to secure good human resources and pay levels in the United States, Europe and other areas.

The Frenchman joined Toyota in 1998 after working at French auto giant Renault SA. He assumed the position of Toyota executive vice president in 2015, becoming the first non-Japanese to serve in the post at the company.

Including Leroy, five Toyota board members each received 100 million yen or more in compensation in the latest business year. The number fell from six in the year to March 2017.

Meanwhile, the total annual income of Toyoda, including dividends on Toyota shares he holds, topped 1.4 billion yen. Jiji Press