Beverly Hills 2/6/2010 12:37:46 AM
News / Business

Toyota President Apologizes

Finance World News Update by EQUITIES Magazine

“I deeply regret that I caused concern among so many people,” said Toyota President Akio Toyoda. “We will do our utmost to regain the trust of our customers. I believe what is happening now is a very big problem. We are in a crisis.”

Toyoda is the grandson of Toyota’s founder. The apology was also his first formal remark since the recall.

Mr. Toyoda also apologized to shareholders for the fall in the company’s share price. The company’s stock has dropped about 20 percent in the last two weeks.

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