Motor Corp.'s pay structure for its U.S. executives is “basically in line” with the U.S. auto industry, Shigeru Hayakawa, president-Toyota Motor North America, tells Ward's at a media reception during the Tokyo auto show.
“We always benchmark other industry competitors and other industries, but in the case of headhunting, they always offer much more money than (our executives) are currently receiving,” he says.
Several high-profile departures from's U.S. unit have called into question Toyota's compensation of executives.
In August, Deborah Wahl Meyer, former vice president-marketing for Toyota Motor Sales U.S.A. Inc.'s Lexus unit, as well as Jim Press, Hayakawa's predecessor, left for positions atLLC.
Also, Jim Farley, vice president-marketing for the Toyota Div., jumped ship forMotor Co., where he will oversee global marketing and communications.
Hayakawa says each of those executives gave different reasons for leaving Toyota, with money one part of the equation, as well as reaching a higher rank at their new companies.